CDS, NDB Bank offer streamlined digital dividends pay outs
View(s):The Central Depository Systems (Pvt) Ltd (CDS), a wholly owned subsidiary of the Colombo Stock Exchange (CSE), and National Development Bank PLC (NDB) have partnered to increase the efficiency of dividend disbursement systems for companies listed on the CSE through the provision of a streamlined dividends pay-out system.
From left --Akila Perera - Manager, Cash Management –National Development Bank PLC (NDB); Ms. Nadika Ranasinghe - Vice President, Strategy & Business Intelligence - NDB; Ms. Dinali Dunuwille - Vice President, Legal - NDB; Ramesh Perera - Chief Manager, Transaction Banking - NDB; Thilanke S. Weerasinghe - Assistant Vice President, Transaction Banking & Trade Operations - NDB; Kelum Edirisinghe - Director / Chief Executive Officer - NDB; Rajeeva Bandaranaike, Chief Executive Officer – Colombo Stock Exchange (CSE); Chandrakanth Jayasinghe, Chief Market Operations Officer – CSE; Nadeera Athukorale, Head - Central Depository Systems – CSE; Kanishka Gunawardena, Manager - Legal and Enforcement - Legal, Enforcement and Compliance – CSE; Ms. Shivandini Liyanage, Senior Vice President - Legal, Enforcement and Compliance – CSE; and Hemal Weerasinghe, Manager - Corporate Solutions and CRM - Central Depository Systems – CSE.
The partnership aims to strengthen capital market infrastructure and streamline the investment process for issuers and investors. Through this partnership, which was formalised by way of a service agreement, NDB enables listed companies on the CSE to seamlessly handle dividend pay-outs through a dedicated system. The service offers numerous disbursement options including electronic funds transfers, cheque processing, and other customised disbursement methods, allowing shareholders to benefit from quicker, direct transfers, reducing delays and errors, the bank said in a media release.
The partnership represents a crucial step in improving the dividend distribution process for companies and enhancing their overall investor relations. This partnership comes as part of a wider CDS initiative to streamline engagement in the Sri Lankan capital market, by providing innovative cash management solutions that support the evolving needs of Sri Lanka’s capital market.
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