23 April 2010

Bursa Malaysia: e-Dividend

Still getting dividends by cheque?
Get them paid quickly and directly into your bank account.
As part of an effort to enhance payment efficiency, all public listed companies (PLCs) on Bursa Malaysia will required to pay the cash dividends to their shareholders starting September 2010. Such payments will directly credit into shareholders’ bank account under the eDividend initiative.

Such measure will provide shareholders greater convenience and faster access to their dividends, while PLCs will also benefit with eDividend’s lower cost. It eliminates the need for them to visit the bank to deposit dividend cheques, which are posted to them, as well as the problem of misplaced, lost or expired cheques.

Shareholders can provide their bank account details to their stock brokers for the purpose of eDividend via the submission of an “eDividend Form” from 19 April 2010 onwards. The forms can be obtained from their stockbrokers or downloaded from Bursa Malaysia’s eDividend webpage.
What should I prepare?
  • eDividend form
  • copy of MyKad
  • certified copy of bank statement / account book
Any thing else should I take note?
Any bank statement extracted from the internet has to be certified by a bank officer of the same bank.

What if, I have many CDS account?
You can choose to consolidate all dividends into a single bank account, or opt to assign different bank accounts for each CDS account.

Sounds good, any fees involved?
NO… if you do so before 18 April 2011. Otherwise, an administrative fee will be charged thereafter.

For more information, please click here

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