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Rentokil Initial announces its lead on a new initiative to use unclaimed shareholder dividends and shares to fund charitable causes, named Rentokil Initial Cares.
While the vast majority of dividends are claimed by shareholders, each year a small percentage of dividends remain unclaimed and small number of shareholders is untraceable. In line with UK company law, these “dormant” funds can be returned to companies after 12 years.
“After trying our best to contact the relevant shareholders, we will now use the value of any unclaimed shares and unclaimed dividends to support good causes. But imagine this kind of impact multiplied a hundred times over - it could make a huge difference and I hope other companies will join us.
“Our new good causes fund - Rentokil Initial Cares - will support our colleagues’ own charitable efforts around the globe and good causes in line with our mission to Protect People and Enhance Lives. I would expect us to commit around £250,000 to good causes each year.” Andy Ransom, Chief Executive of Rentokil Initial plc
What charities are supported by Rentokil Initial?
“Using unclaimed dividends to address climate change is a beautifully simple idea and it is typical that Rentokil Initial thought of it first. A smart company, who is showing great leadership to deliver a global impact.
“Cool Earth and its community partners are on the front line of the fight against rainforest destruction, which must be a priority if we’re to prevent cataclysmic climate change.
“Thanks to Rentokil’s ingenuity, the funding from unclaimed dividends will ensure some of the world’s most endangered forest are kept standing. I hope that where Rentokil leads other responsible companies will follow.” Frank Field MP, Co-Founder of Cool Earth
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