Unclaimed dividends or distributions explained
Dividends paid on NAB shares and distributions paid on other NAB securities are paid in cash into a nominated bank account unless a shareholder participates in the Dividend Re-investment Plan (DRP) in respect of their NAB shares.
We will notify Australian resident shareholders who have not nominated a valid bank account, or have not provided notice of their intention to participate in the DRP, advising that dividends and distributions will be held in a non-interest bearing special purpose account until a valid bank account has been received by our Share Registry, Computershare Investor Services Pty Limited.
Dividend or distributions payments will also be returned to NAB where the nominated bank account recorded against the holding was either ‘closed’ or ‘invalid’, or if we don’t receive a response to a notice of returned payment. NAB will hold unclaimed dividends or distributions for a period of five years.
Where NAB has been unable to pay a dividend or distribution and that amount has not been claimed within five years and is less than the amount prescribed under the Banking Act 1959 (Cth) (currently $500), the NAB Board may deal with it as it sees fit. The Board’s current intention is that such unclaimed amounts will be donated to charity, used for the NAB Disaster Relief Fund or used for some other similar cause. Unclaimed dividends or distributions greater than A$500 not claimed within five years are remitted to the Australian Securities & Investments Commission (ASIC) as required by law.
How do I make a claim?
Claiming unpaid dividends or distributions within five years of the payment date
Any unpaid dividends or distributions will be held in a non-interest bearing account until valid payment instructions are received by NAB’s Share Registry.
All enquiries and requests concerning unpaid dividends or distributions may be directed to NAB’s Share Registry, who you can contact by email, phone or post, as detailed below.
Claiming dividends or distributions for amounts over $500 and more than five years after the payment date
To check whether any historical dividends or other distributions are held with ASIC use their unclaimed money search, opens in new window.
If you have located your details on ASIC's unclaimed money search, you’ll need to note the following information in order to lodge your claim with NAB:
- the Original Transaction Number (OTN)
- the amount (as stated on ASIC’s website)
- your last known address
- confirmation that the amount relates to dividends or distributions paid by National Australia Bank.
To lodge your claim, you may visit a NAB branch and lodge an unclaimed monies enquiry, along with proof of identification and evidence of your claim to the funds. You may also lodge your claim by calling us on 13 22 65 (within Australia) or +61 3 8641 9083 (outside of Australia).
We will need to confirm your identity in accordance with NAB’s identify verification process.
Claims can only be paid by direct credit in Australia dollars to an Australian bank account. You will need to confirm your nominated bank account details and also provide evidence that you are the rightful owner to the unclaimed dividends or distributions.
How are claims paid and how long can claims take?
For unpaid dividends or distributions within five years of the payment date
Once your nominated bank account has been successfully recorded with NAB’s Share Registry, outstanding amounts will normally be paid into your nominated account within five business days.
For unpaid dividends or distributions claimed from ASIC
Once we have confirmed your identity, verified your claim, and a valid bank account has been supplied to us, ASIC will transfer funds (in batches) to NAB every four to six weeks, representing the total value of valid claims within the period. Once received from ASIC, we will pay the outstanding amount to your nominated bank account.
How do I update my NAB shareholding records (including bank account details for payments of dividends or distributions)?
Contact NAB’s Share Registry in one of the following ways:
NAB Share Registry
GPO Box 2333
Melbourne VIC 3001
Note: If your investment is broker sponsored, you will need to notify your broker in order to update your address. NAB’s Share Registry will be able to assist you in identifying your sponsoring broker.
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