Consolidated Dividends Service
A specific dividend mandate is applied for each CREST member account held on the Register of Members.
The total dividend amount payable to the CREST member in respect of all their uncertificated shareholdings is calculated and a single payment is made to the mandated account on the payment date.
A few days prior to the payment date an electronic file is sent to the CREST member's specified email address. This file shows the breakdown of the dividend payment and the tax deduction.
- Simplified procedures;
- Cost savings and environmental best practices;
- Security;
- an electronic file is delivered prior to payment date allowing quicker payment to underlying beneficiaries
- dividend payments can be reconciled electronically. A single tax voucher is issued per dividend payment
- no need to print and mail large volumes of cheques and tax vouchers
- elimination of lost cheques through the postal system which reduces fraud and internal risk profile
For further information on this service, please click here to view our online brochure