The Security Board of
Nepal (SEBON) Friday directed all the listed companies to make necessary
provisions deposit the dividend to the bank account of the respective
investors.
It said that the
deposit could be made in the account of bank and financial institutions that
were members of the Nepal Clearing House Limited (NCHL).
NCHL offers
electronic medium cheque clearing service to the banks and financial
institutions in the country.
"The investors
were complaining that the process of receiving dividend was complex and costly.
Therefore, SEBON has directed the listed companies to deposit the money to
investors' bank accounts," read the directives.
Investors, specially
those from outside the Kathmandu Valley, would be benefitted as they need not
to reach to the respective organizations' head office to receive their
dividend, said the capital market regulator.
In an attempt to
modernize the capital market in the country, all the shares had been
dematerialized recently and SEBON has directed the companies also to deposit
the right shares and bonus shares in the investor's account.
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