eDividend

I believe eDividend, which was proposed in 2010 Budget, is the most effective service to be provided to share investors.

For years, I have been worrying about loss of dividend cheque as a result of loss in mail as they are all sent by normal mail.  Even though loss in mail is an uncontrollable factor to us, we have to realize that we will be penalized for the loss.  We need to inform respective share registrar and pay a penalty of RM5 for cheque replacement even though it is not our fault.  Thanks for eDividend, all dividend payment will be credited directly into our designated bank accounts.  According to Bursa, the bank-in date will be the same as dividend payment date and we are safe on the risk of loss in mail, penalty and save petrol on going to the bank for cheque deposit.

The registration is now on and is FOC until 18th April 2011.  There might be charges for registration after 18th April 2011.  So, prepare a copy of your IC and a copy of your bank statement (for current account) or savings passbook and visit your brokerage company to fill up an application form.  That is all.  All your dividend will be banked into your account for payment after 1st September 2010.

Happy investing.