Nu 79 million in unclaimed dividends in 16 companies

Shareholders have not collected their shares paid by 16 listed scripts with the Royal Securities Exchange of Bhutan (RSEBL). Unclaimed dividend is the dividend that is paid by the companies to its shareholders but the shareholder has not yet taken or claimed it.

Druk PNB Bank Limited has accumulated Nu 24.588 mn worth of unclaimed dividends.

Royal Insurance Corporation of Bhutan Limited (RICBL) has accumulated Nu 21.534 mn worth of unclaimed dividends.

Bhutan Insurance Limited (BIL) has accumulated Nu 10.155 mn worth of unclaimed dividends.

Penden Cement Authority Limited (PCAL) has accumulated Nu 4.016 mn worth of unclaimed dividends.

State Trading Corporation of Bhutan Limited (STCBL) has accumulated Nu 3.744 mn worth of unclaimed dividends.

Bhutan National Bank Limited (BNBL) has accumulated Nu 1.649 million (mn) worth of unclaimed dividends.

Bhutan Chemical Carbide Limited has accumulated Nu 1.270 mn worth of unclaimed dividends.

Bhutan Polymers Company Limited (BPCL) has accumulated Nu 1.142 mn worth of unclaimed dividends.

Druk Satair Corporation Limited (DSCL) has accumulated Nu 1.028 mn worth of unclaimed dividends.

Bhutan Board Products Limited (BBPL) has accumulated Nu 679,500 worth of unclaimed dividends.

Kuensel Corporation Limited (KCL) has accumulated Nu 213,912 worth of unclaimed dividends.

T-Bank Limited has accumulated Nu 7.932 mn worth of unclaimed dividends.

Druk Wang Alloys Limited (DWAL) has accumulated Nu 266,805 worth of unclaimed dividends.

Druk Ferro Alloys Limited (DFAL) has accumulated Nu 530,548 worth of unclaimed dividends.

Bhutan Tourism Corporation Limited (BTCL) has accumulated Nu 314,300 worth of unclaimed dividends.

GIC Bhutan Reinsurance Corporation Limited (GICL) has accumulated Nu 84,930 worth of unclaimed dividends which is the least among the listed scripts.

With almost Nu 79 million worth of dividends accumulated over the years, it has been one of the pertinent challenges for companies and RSEBL.

As dividends are left unclaimed, it becomes a liability to the company as it becomes an obligation for the company to its shareholders, stated an official from RSEBL. “When a company declares dividends, it essentially promises the shareholders to pay them a certain amount. However, when these dividends go unclaimed, the company has to keep track of the unclaimed dividends and set aside funds to cover them, which could impact the financial position and cash flow and it also reflects in the balance sheet.”

As dividends go unclaimed, the official said there could be number of reasons for unclaimed dividends. “First reason could be low level of financial literacy. The shareholders are not aware of their entitlements, and their rights. Other reason is that people have not updated their details, their CID number and their account number.”

As dividends are the shareholders’ money, whenever a company declares it, it is the right of the shareholders to claim it.

If one has not yet claimed the dividends, RSEBL will help facilitate the claiming of the dividends, one just has to update their details with RSEBL.

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