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I bought GTCO shares on January this year and I didn’t receive dividend that was paid on April and I had complained about it to the Datamax Registrars I even sent my contract note to them but they don’t reply, so who should I hold responsible, my stockbroker or Registrars
For dividend payment on the Guaranty Trust Holding Company Plc shares, the key factor is the qualification date (closure date / record date) — not just the year you bought the shares. If you bought GTCO shares in January 2026 and did not receive the April dividend, one of these likely happened: YourRead more
For dividend payment on the Guaranty Trust Holding Company Plc shares, the key factor is the qualification date (closure date / record date) — not just the year you bought the shares.
See lessIf you bought GTCO shares in January 2026 and did not receive the April dividend, one of these likely happened:
Your shares were bought after the qualification/closure date
Your CSCS details were not properly linked
Your e-dividend mandate was not updated
The shares had not fully settled into your account before the record date
Your stockbroker failed to process the transaction correctly
In Nigeria’s market structure:
The Registrar handles dividend payment and shareholder records
The Stockbroker handles purchase execution and CSCS posting
So responsibility depends on where the failure occurred.
You should hold the Registrar first responsible for confirming whether your name appeared on the register at qualification date. Since you already contacted Datamax Registrars Limited and sent your contract note, they are supposed to verify:
your shareholder status,
your CSCS details,
and whether you qualified for the dividend.
However, if your shares were not properly posted by your broker before the record date, then the fault shifts to your stockbroker.
A practical way to determine the real issue is to ask these two direct questions:
Ask Datamax Registrars:
“Was my name on GTCO’s register of members as at the qualification date for the April 2026 dividend?”
Ask your stockbroker:
“What date were my GTCO shares posted into my CSCS account?”
If the posting date was after qualification date, you would not receive the dividend even if you bought earlier.
Also check:
Did you receive a CSCS alert confirming the shares entered your account?
Is your bank account linked for e-dividend?
Many first-time investors miss dividends because the shares were still in settlement processing during the qualification window.
You can also escalate through:
NGX Invest complaint support
SEC Nigeria complaints portal