Shareholders will soon enjoy an improved version of The Stock Exchange of Thailand’s (SET) e-Dividend service, as they will be able to have dividends and interest deposited directly into their bank accounts for a maximum THB40 million (approx. USD1.3 million),the former limit was THB 2 million ,effective March 7.
“e-Dividend service provides speed and convenience for shareholders to receive dividends and interest on the exact payment date. e-Dividends not only allows shareholders to make timely use of dividends in any preferred way, but also lowers costs carried by listed firms. This improvement is another major step towards shareholder satisfaction, especially for those who receive dividends of between THB2 million and THB40 million each time. Each transfer will be for up to THB2 million until the whole amount is completely paid to the recipient’s account. Shareholders will be able to check details of the transfers from their banks and from the usual official notification.”, said SET Executive Vice President – Post-Trade Services & Development Bordin Unakul.
The new e-Dividend service was accomplished under the collaboration of Thailand Securities Depository Co., Ltd., National ITMX Co. Ltd. and 15 sending banks.
In 2010, the e-Dividend system accounted for 80.90% ,totaling 2,051,794 payments ,of all dividend and interest payments of listed companies. At present, around 787,000 shareholders are registered with the e-Dividend service. Participants can enjoy e-Dividend service at all commercial branches across Thailand while eliminating bank fees incurred from cashing checks at branches not in their home province and staying free from worry about delayed delivery or loss of checks -- and registering for the service is free.
Shareholders can check the status of their dividend receipts 24 hours through TSD Investor Portal at www.tsd.co.th/investorportal