100 Views When a family loses a breadwinner in death, the pain goes beyond just missing their presence for good, but brings along untold suffering for those left behind. In some cases families lose everything including investments, sometimes through ignorance on where to start from, leaving dividends unclaimed. Be that as it may, the Copperbelt […]

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When a family loses a breadwinner in death, the pain goes beyond just missing their presence for good, but brings along untold suffering for those left behind.

In some cases families lose everything including investments, sometimes through ignorance on where to start from, leaving dividends unclaimed.

Be that as it may, the Copperbelt Energy Corporation Plc, (CEC), has launched a public awareness campaign urging administrators of deceased estates to claim outstanding dividends and facilitate the transfer of shares belonging to late shareholders.

In a statement issued yesterday, CEC said the death of a shareholder should not prevent beneficiaries from accessing investments and dividends they are rightfully entitled to.

“The passing of a loved one should not prevent beneficiaries from accessing the investments and dividends they are rightfully entitled to,” the company stated.

The energy corporation said administrators appointed to manage a deceased estate can begin the claims process by submitting required documents to the company’s Transfer Secretary, Corpserve Zambia.

CEC emphasized that all state-issued documents must be certified to facilitate verification and settlement of payments.

CEC encouraged administrators and shareholders to use the Corpserve Shareholder App, available on both the Google Play Store and Apple App Store, to access shareholder services.

“If you are the administrator of a deceased estate involving CEC shares, taking the necessary steps today can help ensure that outstanding dividends and shareholding benefits are transferred to their rightful beneficiaries,” the statement read.

Unclaimed dividends have been a challenge for many listed companies in Zambia, with thousands of kwacha often left idle after shareholders pass on without updating beneficiary details.

CEC is listed on the Lusaka Securities Exchange and supplies power to mining companies on the Copperbelt.

In Zambia, unclaimed dividends from listed companies remain with the company or its transfer secretary for up to 15 years.

Under the Zambian Securities Act, No 41 of 2016, funds unclaimed after 15 years are transferred to the Securities and Exchange Commission (SEC) Zambia investor protection fund.