Dividend/Interest Payment to Bank Account (e-Dividend Service)
The e-Dividend service is the service where the dividend / interest payment is made to a bank account to facilitate the securities holders in receiving dividend / interest from securities issuers. Formerly, the dividend / interest payments are made to securities holders by cheques. With the e-Dividend service, this could facilitate securities holders to have more convenience, the dividend / interest will be deposited directly into their bank accounts for a maximum of THB40 million,the former limit was THB 2 million.
Benefits of the e-Dividend Service to Securities Holders
Receive the dividend/ interest payments on the due date via the money transfer
No need to worry about delayed or lost cheques during the handling
Receive dividend/ interest payment via bank accounts even in case of relocation without notifying to a registrar. Customers have no difficulty or do not have to wait for a returned mail to be reforwarded
No need to spend time at a bank to cash cheques
Securities holders located in provinces can save bank fees on bill for collections and they will receive the dividend/ interest payments immediately on the paid date, while in case of cheques it will take 5-7 days.
Securities holders continue receiving the letter regarding the dividend/ interest payments to bank accounts, including the withholding tax documents by mail
The e-Dividend Application Process
Securities holders can submitrequest forms for dividend/ interest payments to bank accounts,and specified supplement documents to the TSD. In case of the scripless holding, securities holders can submit via securities companies from which they receive services. A registrar will deposit dividend/ interest into bank accounts after a securities issuer requests to make dividend/ interest payments to bank accounts of securities holders or securities owners.