Maybank Dividend Reinvestment Plan
If you got the Maybank Dividend Reinvestment Plan(DRP) entitlement, please do subscribe as you are getting Maybank’s share at 10% Off from current market price at Bursa Malaysia.(adjusted ex-dividend).
What Is The Dividend Reinvestment Plan (DRP)?
Dividend Reinvestment Plan (DRP) is a scheme where the shareholder can opt for the company shares instead of receiving cash dividend.
In the Maybank offer, each shareholder can choose to reinvest the electable portion of their dividends (Electable Portion) into new ordinary shares of RM1.00 each in Maybank (Maybank shares).
It allow the shareholder to have extra Maybank shares at a discount without having to incur material transaction or other related costs like brokerage, stamp duty etc fees.
Interim Cash Dividend
Maybank has declared an interim cash dividend for the financial year ending 30 June 2011 of 28 sen less 25% taxation which consists of:
- 4 sen (3 sen net of taxation) to be paid in cash; and
- an Electable Portion of 24 sen (18 sen net of taxation) that can be elected to be reinvested into new Maybank Shares.
(Hereinafter referred to as the "Interim Cash Dividend")
Issue Price
The issue price of new Maybank Shares to be issued pursuant to the DRP applicable to the Interim Cash Dividend has been fixed at RM7.70 per new Maybank Share. The issue price is based on the five (5)-day volume weighted average market price (VWAMP) of RM8.80 per Maybank Share up to and including 30 March 2011, being the last trading day prior to the Price Fixing Date for the issue price of new Maybank Shares after adjusting for the following:
(i) a gross dividend adjustment of RM0.28 to the five (5)-day VWAMP (“Ex-Dividend VWAMP”); and
(ii) a discount of RM0.82 which is approximately 9.6% discount to the Ex-Dividend VWAMP of RM8.52.
How To Apply for Dividend Reinvestment Plan (DRP)?
1) Fill up and put your signature on the Dividend Reinvestment Plan (DRP) form. You may download this form from Maybank’s web site or get it from your share registrar if you don’t have any.
2) Affix a Malaysian Revenue Stamp of RM10.00 on the DRF. The stamp is Not postage stamp BUT A Malaysian Revenue Stamp! Malaysian Revenue Stamp is available for sales at Post Office
3) Put in a envelope
4) Send it to the share registrar-Tricor Investor Services Sdn Bhd, which is located nearby Mid Valley on or before Friday, 29 April 2011 at 5.00pm..
Tricor Investor Services Sdn Bhd
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Malaysia
Tel: (60) 3 2264 8888
Fax: (60) 3 2282 2733
It’s best to send by hand and You no need to go up to Level 17, The Gardens North Tower, Mid Valley City, as a post box was specially prepared at ground floor