CDP now offers Scrip Elections Online!
I was excited to receive my OCBC Scrip Election form to opt for shares as the discount was a good deal.
However, whilst doing so, I noticed the top and bottom of the form:
There's actually a link to elect for my scrips online!
You can head over to Investors.sgx.com and log in.
After which, you will see a section called "Corporate Actions Form Submission".
You can click on the security you wish to submit for, alternatively, click on "View Full List" to see all of them.
This will bring you to the form submission page.
Here, it gives you information about the corporate election you are submitting for, which in my case is scrip dividend election.
If everything is correct, you can proceed to the next section, where they will want you to verify your details.
Once your details are verified, they will let you pick the election.
Select your option and click "Next".
I notice that they do not put the default option of receiving cash, which you would receive by not taking action at all.
Also, the permanent scrip election option (to permanently receive dividends in form of shares) is not present as well. For those of you who wish to pick such an option, the only way is to submit the physical form.
This will bring you to the Declaration page where you need to check the 2 tick boxes to proceed.
The next page will let you do a final review of the corporate action you are acting on.
Conclusion
Quite a good initiative from SGX.
It actually helps me quite a bit as I tend to forget about submitting the hardcopy letter until the last minute.
Note that the service is available only on the following hours:
- Monday to Friday: 8am to 9pm
- Saturday: 8am to 1pm
That's the only odd part I feel.
Hope you enjoyed this post.
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