Maryam Fekri: “Dubai CSD’s Electronic Dividend Distribution System (DDS) enables us to swiftly distribute the dividends once received from the listed companies”
Dubai: 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.”>
About Dubai CSD (L.L.C.): Dubai Central Securities Depository (CSD) is a subsidiary of the Dubai Financial Market (DFM) and the UAE’s first independent central securities depository (CSD) company. Established in 2020 as part of DFM’s plan to reorganize poste-trade services in line with international best practices, the Company provides world class central securities depository (CSD) solutions as well as many other investor services such as Investor Numbers (NINs) issuance and cash dividend services.
About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 Billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
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