Thousands of citizens have begun receiving dividend checks from “Dimitra,” many of whom had forgotten that they held shares in the company. What applies to those who did not receive a check, how can they locate their shares, and what procedure must the heirs of deceased shareholders follow? Angeliki Frangou, Head of the Central Securities Depository and Registry of the Cyprus Stock Exchange (CSE), Angeliki Fragou, explained on the “Alpha Enimerosi” program.
The dividend payment applies to nearly 140,000 shareholders of Demetra Holdings, with the amount totaling €0.10 per share for the 2025 earnings. As Ms. Fragou noted, the checks were mailed around September 29 and 30, while approximately 4,000 shareholders who work with brokerage firms received their dividends through those firms. “The company has paid the dividend as usual. It mailed the checks around September 29–30,” he noted, clarifying that the vast majority of shareholders are served via mail.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
For those who wish to verify which shares are still registered in their name, they may submit a request to the CSE.
The process involves filling out the relevant share search form, having the signature notarized, and sending the request via email, along with a copy of your ID and proof of payment.
The fee is €4, and the CSE’s bank account information is included on the form. Through this process, interested parties can also identify other shares they may have acquired in the past.
What Applies to Deceased Individuals
The process is different when the shares belong to a deceased person. “The first step someone must take is, once again, to obtain a statement of the deceased’s shares,” explained Ms. Fragou.
The application may be submitted by the estate administrator, along with the relevant court order and death certificate, or by an heir, along with a death certificate, a certificate from the community leader listing the heirs and the necessary identification details.
Next, a tax exemption must be obtained from the Tax Department in order to proceed with the transfer of the shares. Regarding the dividend check itself, the heirs must contact the company.
“For the shares, they will contact the stock exchange. For the check, they will contact the company,” Ms. Fragou clarified.
As for the transfer fee due to death, it is calculated at 0.075% of the value of the shares, with a minimum charge of €20 per heir for the first share certificate.
In cases where there are multiple heirs, the shares can be transferred to one of them, provided that all heirs agree and sign the relevant documents.
As Ms. Fragou explained, “if there are multiple heirs, the heirs themselves can, on the transfer form—provided they all sign it—designate one heir to receive the shares.”
A necessary condition is that the heir who will acquire the shares must be registered as an investor with the Central Securities Depository and Registry of the CSE, so that the shares can be transferred into their name.
At the same time, Ms. Fragou urged shareholders to update their personal information, especially if they have changed their address, so that they may receive relevant notifications and dividends in a timely manner. A change of address can be made free of charge by sending a copy of an ID and a utility bill to the CSE. Those wishing to sell their shares may do so through a brokerage firm or bank that is a member of the CSE, while the latest closing prices of listed shares are available on the CSE’s website.
