Bangkok--Mar 10--SET
Thailand Securities Depository Co., Ltd. (TSD) is actively promoting its e-dividend service by collaborating with 3 leading commercial banks to attract bank clients. TSD plans to increase the number of e-dividend customers before the approaching dividend payment period arrives.
TSD President, Mrs. Nongram Wongwanich, disclosed that the TSD has been actively promoting its e-dividend service for a while now and the feedback has been quite satisfactory. Over 200,000 people have been participating in the program so far. There now are 339 listed securities whose shareholders are entitled to use the e-dividend service. Nevertheless, there still a number of listed securities which aren’t yet in the program, and the possibility that their shareholders may somehow not receive their dividend cheques still exists.
“Therefore, to help shareholders receive their full financial benefits, the TSD has asked 3 leading commercial banks to send out letters notifying shareholders of listed firms that if their companies should be paying dividends soon, (….note: I changed from past to future tense……) these shareholders can get their dividends transferred to their bank accounts directly without having to send confirmations or additional documents to the banks. People who’d like their dividends transferred to other accounts, or do not want to use this dividend transfer, can easily fill in the form indicating their preferences and return it to the TSD. Any changes will be done without any additional charges,” Mrs. Nongram said.
Today (March 9, 2005) TSD signed a memorandum of understanding (MOU) with Krung Thai Bank Pcl., Bank of Ayudhya Pcl., and Siam City Bank Pcl. so that TSD’s e-dividend program with these banks will advance more quickly and more users can apply before the next dividend payment period (this coming April-June).
“This collaboration will benefit shareholders, as the service will enable them to receive their dividends more quickly, and without any additional costs. It also reduces the hurdle of clearing cheques returned by the postal service,” Mrs. Nongram said.
She noted, “The e-dividend service is the most convenient way to receive your dividend payments. Shareholders will not have to actually cash their cheques themselves at banks. It also avoids the risks of cheques being lost during transfer. On the listed companies’ side, they will save related costs, such as the bank conciliation costs when the cheques are damaged or lost.”
As for the arrangement with the 3 banks, TSD will complete everything by end of March so that the e-dividend service will be ready for the upcoming dividend payment season.
For more information, please contact the TSD
Call Center at 0-2229-2888.
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 /
Kulvida Jintakawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 /
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.