New Timeline Set for Delivery of Justice Shares Dividends
Tehran – A senior official has announced a concerted push to ensure the timely distribution of dividends for the national “Justice Shares” program, with the first phase of payments for the current year now targeted for the Iranian month of Azar (November-December).
Addressing the Delay
Askar Tavakoli, Head of the Justice Shares Union, addressed the reasons behind the delayed payments, clarifying that while company assemblies have been held, some firms have yet to transfer their approved dividends for the year 1403 (2024-2025). He emphasized that, according to a directive from the Supreme Council, the distribution of these dividends is mandatory.
“Based on the Commercial Code, companies have up to eight months after their general assembly to pay dividends,” Tavakli explained. “Despite the assemblies being held, some companies have not yet transferred the approved profits.”
Ongoing Efforts and Parliamentary Support
Tavakoli noted that serious follow-ups by the Head of the Securities and Exchange Organization and other officials are underway to resolve the bottlenecks. He also highlighted the “serious cooperation and follow-up” from the social and economic commissions of the parliament to ensure shareholders receive their dues on time.
Regarding the remaining dividends from the previous year (1402), Tavakoli stated that a portion has been paid through continued efforts, though dividends for deceased individuals and those who have not registered bank account numbers are still pending resolution.
A Call for Streamlined Management
The official also discussed the potential for more efficient management at the provincial level. He recalled that before 2013, dividends were managed and paid within each respective province, a system that he suggested allowed for greater accountability.
“While the Central Securities Depository and the Securities and Exchange Organization have the legal right to manage payments, the right of the people is above all else and must be respected,” Tavakoli stated. “If the follow-up and management of dividends were entrusted to the provinces, accountability would be easier.”
Moving Towards a Resolution
Tavakoli confirmed that a meeting is scheduled with the Deputy Minister of Cooperatives and other relevant managers, alongside follow-ups by the Head of the Parliament’s Article 90 Commission. The goal of these high-level discussions is to conclusively address and organize the remaining issues surrounding the dividend payments, ensuring that millions of Justice Shares beneficiaries across the nation receive their entitlements promptly.
