04 November 2024
Over R240m Phuthuma Nathi unclaimed dividends due to shareholders
Phuthuma Nathi, the MultiChoice broad-based black economic empowerment (BBBEE) share scheme, is actively looking for 18 000 shareholders who have not claimed their dividends. Over R240 million in dividends remains unclaimed.
Since 2020, Phuthuma Nathi has been running a nationwide media campaign to locate shareholders who are owed dividends from as far back as 2006. Despite significant progress, a large portion of these funds remains unclaimed.
“We are determined to find these shareholders and ensure they receive what is rightfully theirs. We’ve been tirelessly working to track down shareholders who have unclaimed dividends between 2006 and 2024. Thanks to our efforts, over R118 million has already been paid out, but we still have a long way to go," says Phuthuma Nathi chair, Mandla Langa.
The most common reasons for unclaimed dividends include shareholders forgetting to update their personal or banking details, making it impossible to process payments. In some cases, shareholders have passed away and the dividends are owed to their estates.
How to Claim
If you are a Phuthuma Nathi shareholder who has not received dividends between 2006 and 2024, or you are a family member of a deceased shareholder, please contact the Phuthuma Nathi call centre for assistance. The Phuthuma Nathi Call Centre is available to assist Monday through Friday, from 07:00 to 18:00, excluding public holidays. Call centre representatives can be reached during these hours at 086 011 6226, or inquiries may be sent via email to phuthumanathi@singularservices.co.za.
As part of the FICA verification process, shareholders will need to provide identification documents, proof of bank account details, and other supporting documents. Once the claims process is completed, unclaimed dividends are paid within 3 to 5 working days.
“The FICA verification process ensures that dividends are paid to the correct individuals. We work closely with our transfer secretary, Singular Systems, to verify each claim, and payments are only made after full confirmation of the shareholder identity and bank account details," added Langa.
About Phuthuma Nathi
Phuthuma Nathi owns 25% of MultiChoice South Africa and is one of the most successful Broad-Based Economic Empowerment schemes in South Africa. Since 2006, Phuthuma Nathi has received R19.1 billion in dividends from MultiChoice SA.
It is a truly broad-based scheme, with more than 75 000 black shareholders from diverse backgrounds including domestic helpers, gardeners, professionals, stokvels, and small businesses.