Bangkok--20 Mar--SET
Building on last year’s success, Thailand Securities Depository Co., Ltd. (TSD) will this year continue to promote its e-dividend service, provided in collaboration with leading commercial banks. TSD projects that an additional 150,000 users will choose this paperless dividend payment service in preference to using traditional bank check arrangements. Currently there are about 628,000 e-dividend users, a 75% rise on 358,000 in 2005.
On the corporate side, TSD serves as registrar for 251 listed companies which have announced their 2006 dividend payments, worth THB 106,892 million. About 97.60% or 245 of them use e-dividends, saving up to 10% in administrative costs.
Because of e-dividend’s importance and benefits to investors and listed firms, TSD heavily promotes the service using print, TV and radio. The latest TV commercial, first aired on March 15, features the well-known actor, Mr. Ravit Therdwong. Further support comes from securities companies’ encouraging their clients to use e-dividend and the automated transfer system (ATS) service which starts on April 1, 2007, TSD Chief Executive Officer Ms. Sopawadee Lertmanaschai said.
“The promotion campaign and cooperation from the securities firms makes this year’s target of 150,000 new users achievable.
“The response from public companies has been good, as they realize the benefits and convenience of the program. In fact, of the firms which have announced dividend payments, only six are not involved in e-dividend,” Ms.Sopawadee added.
She went on to say that Thai market business transactions will become increasingly electronic. Because nowadays people can trade securities through the internet or mobile devices, and clearing and settlement can be done via ATS, e-dividend is a logical development further simplifying the process for investors.
“As the dividend payment season approaches, TSD encourages investors to use this service. As soon as companies pay dividends, they will be transferred directly into investors’ bank accounts. This saves time in dealing with check payments, delays or loss, and avoids problems arising from investors changing address. The service is free, easy to use and available at all commercial banks,” Ms. Sopawadee concluded.
About TSD
TSD is a subsidiary of The Stock Exchange of Thailand providing post-trade services including securities depository, securities clearing and settlement, securities and fund registration, and back office service bureau.
There are 638 members in the securities depository service, 84 in the clearinghouse, and 565 in securities registration.
For more information, please visit www.tsd.co.th or call TSD Call Center on 0-2229-2888, or email [email protected]
For more information, please contact:
Ms. Malyn Pienchob / Ms. Aunchalee Sutitakul
TSD Business Development Dept.
Tel: 0-2229-2892/ 2887
Email: [email protected] http://www.tsd.co.th