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Dubai CSD (L.L.C.), the UAE’s first independent central securities depository (CSD) company and a subsidiary of the Dubai Financial Market (DFM), has successfully accomplished the cash dividend distribution for the financial year 2019, with AED 20.63 billion of dividends disseminated to 356,480 investors.
The Dubai CSD has managed the dividend distribution process on behalf of 29 companies listed on DFM and Nasdaq Dubai. Investors received their dividends via iVESTOR Card as well as bank transfer.
It is noteworthy that the total value of the disseminated amounts and number of entitled investors include the cash dividends as well as the Dubai Ports World’s cash offer to its shareholders.
Maryam Fekri, Chief Executive Officer (CEO) of Dubai CSD, said, “Dubai CSD employs leading fintech solutions that have been internally developed to reinforce DFM’s innovative dividend distribution services over the past 10 years since we initiated such services in 2011, which enables us to seamlessly distribute cash dividends to investors. Our Electronic Dividend Distribution System (DDS) enables us to swiftly distribute the dividends once received from the listed companies due to its comprehensive and continuously updated databank of investors’ details including; dividend entitlement and due amounts and previously disseminated amounts for each investor.”
There are several xpress money dubai branches that have seen an increase in remittances post COVID.
This trend is likely to continue according to local financial analysts.
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