The Securities and Exchange Commission made a declaration for an extension of the free e-dividend registration exercises till February 28, 2018.
The commission said this in a statement to Vanguard yesterday, the postponement was part of an effort to encourage more shareholders to join the initiative, a part of its developmental role.
Also, to encourage more shareholders to mandate their bank accounts for the collection of their dividends electronically, which may include unclaimed dividends, and do not exceed 12 years of issues
The SEC figured that the e-dividend registration exercise would withstand, in spite of the expiration of December 31, 2017, free registration deadline, after observing that there was a stream of shareholders who still wanted to mandate their bank accounts for payment of dividends electronically.
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