Hunter-founded private health insurer, NIB, is set to donate almost 2.5 million dollars worth of five-year-old unclaimed dividends to charity.
This is something that has never been done by an ASX listed company, with unclaimed funds usually going to the Office of State Revenue.
The funds will go to the NIB Foundation, which is a not-for-profit charitable trust that supports Australian charities.
NIB Managing Director and Chief Executive Officer Mark Fitzgibbon says it is a positive alternative.
"We think it's a much better use of the unclaimed money than it would be to pass it on to the state government- we just think this is a better approach."
However, whilst he says it is a good initiative, it is important that those who are owed money receive it.
"We're very eager to ensure that those people who are entitled to these unclaimed dividends are able to claim them."
Fitzgibbon says roughly 2000 people from around the Hunter are amongst the 9000 shareholders who still need to claim their payments.
He says that whilst most of the payments are small, there are some that are quite significant.
"The average is only about $300 worth of unclaimed dividends, but there's one I noticed there as large as almost $1500."
Fitzgibbon is encouraging those who think they may be owed dividend payments to contact them before the 31st of August to ensure they receive their money.
"We're urging people to contact us, either by phone or online- we've made a lot of effort in recent years to contact them- a number they could call is 1300 664 316."
