Investors encouraged to collect unpaid dividends through First Abu Dhabi Bank (FAB) as per instructions from the Securities Clearing Corporation (SCA)

Investors encouraged to collect unpaid dividends through First Abu Dhabi Bank (FAB) as per instructions from the Securities Clearing Corporation (SCA)

Claiming Outstanding Dividends Through First Abu Dhabi Bank (FAB)

First Abu Dhabi Bank (FAB) is urging investors to claim outstanding dividends reserved by the Securities and Commodities Authority (SCA). Here's a step-by-step guide on how to proceed:

1. Identify Outstanding Dividends

Outstanding dividends are those declared by companies but not claimed by shareholders, often before March 2015. The SCA mandates companies to reserve such dividends [2].

1. Contact FAB to Initiate the Claim

Shareholders should contact FAB's investor services department to initiate the claim process. FAB may require initiating a formal request or submission of documents [3].

1. Required Documentation

Common required documents include: - Identification documents (passport, Emirates ID) - Share certificates or proof of ownership - Dividend notification or dividend coupon, if available - A claim or authorization form provided by FAB or the company - Bank account statement or details for crediting the dividend - In case of legal heirs claiming on behalf of deceased shareholders, legal heirship documents

1. Filing with the Securities and Commodities Authority if Required

The SCA directives govern uncollected dividends. Some jurisdictions use a formal process for claiming uncollected dividends, such as submitting forms and supporting documents [1]. While the exact form for UAE is not detailed, consultation with FAB or SCA for their prescribed form is advisable.

1. Follow-up and Confirmation

After submission, the claim may take several weeks to process. FAB or the SCA will confirm the approval and arrange payment crediting to the claimant’s account.

Important Notes

• The specific procedure and required documents might vary depending on the company distributing dividends and the latest SCA regulations.
• FAB's role is mostly as a paying agent or facilitator; the ultimate authority to release reserved dividends rests with the companies and the SCA directives [2][4].
• Contacting FAB's investor relations or customer service directly will provide the precise forms and procedural guidance to claim dividends.
• If dividends are from shares held on the Dubai Financial Market, the Dubai Financial Market’s own procedures for withdrawals and dividend services may also apply [5].

In summary, to claim outstanding SCA-reserved dividends through FAB, you will need to provide proof of identity and share ownership, submit a formal claim or authorization form (available from FAB), and, if applicable, legal documents for heirs. Contact FAB’s investor services for the exact forms and instructions, as well as follow any SCA guidelines on uncollected dividend claims.

• Investors should include the original complaint documents when escalating a matter to the SCA.
• The SCA's goal is to make the dividend collection process align with shareholder expectations and the UAE government's vision of delivering world-class services.
• FAB is the official paying agent for this dividend claim process.
• The dividends will be transferred to the shareholder's account within 10 business days after all required documents are provided.
• The SCA is dedicated to streamlining the dividend collection process.
• The SCA's efforts to improve the dividend collection process are also part of its commitment to delivering efficient and effective services.

1. The government-backed Securities and Commodities Authority (SCA) directs that investors utilize First Abu Dhabi Bank (FAB) as the official paying agent for claiming outstanding dividends.
2. To begin the process of claiming these dividends, investors should contact FAB's investor services department and provide necessary documents such as share certificates, identification documents, bank account details, and any other relevant documents required by FAB or the company.
3. FAB's role is to facilitate the claim process, with the ultimate authority to release the reserved dividends resting with the companies and the SCA directives.

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