Why some listed issuers published the "inside information" announcement when they adopted their dividend policy?
Pursuant to item 35 of the Guidelines on Disclosure of Inside Information published by the SFC, changes to the dividend policy is listed as one of the examples of possible inside information concerning the corporation. Hence, some listed issuers published the inside information announcement pursuant to MB L.R. 13.09.
Most listed issuers which already have a dividend policy in place or have a consistent dividend payment history would only disclose their dividend policy in the annual report but they would not publish any inside information announcement.
For issuance of scrip shares, when should listing approval be sought?
After the submission deadline of the scrip dividend election form, the registrar will tabulate how many shareholders choose scrip and how many choose cash dividend. Upon ascertaining the number of scrip shares to be alloted, listing application (Form C1) should be submitted (which should be at least FOUR CLEAR BUSINESS DAYS before the proposed date for issuing the securities). After listing approval is obtained, the registrar will then allot the scrip shares and despatch the share certificates to the shareholders which choose scrip dividend.
Why some listed issuers published the "inside information" announcement when they adopted their dividend policy?
Pursuant to item 35 of the Guidelines on Disclosure of Inside Information published by the SFC, changes to the dividend policy is listed as one of the examples of possible inside information concerning the corporation. Hence, some listed issuers published the inside information announcement pursuant to MB L.R. 13.09.
Most listed issuers which already have a dividend policy in place or have a consistent dividend payment history would only disclose their dividend policy in the annual report but they would not publish any inside information announcement.
For issuance of scrip shares, when should listing approval be sought?
After the submission deadline of the scrip dividend election form, the registrar will tabulate how many shareholders choose scrip and how many choose cash dividend. Upon ascertaining the number of scrip shares to be alloted, listing application (Form C1) should be submitted (which should be at least FOUR CLEAR BUSINESS DAYS before the proposed date for issuing the securities). After listing approval is obtained, the registrar will then allot the scrip shares and despatch the share certificates to the shareholders which choose scrip dividend.