DCA for electronic dividend payment

NEW DELHI, JULY 9: The Department of Company Affairs DCA has asked all chambers of commerce and industry in the country to advise their listed company members to encourage payment of dividends through electronic fund transfer to avoid delay.

Chambers have been asked to direct their members who are listed in stock exchanges to encourage their shareholders to send them authorisation to remit dividend to their bank accounts through electronic transfer, an official release said here today.

The DCA direction follows complaints of shareholders loosing warrants sent by post due to pilferage in transit or undue delay in receipt of dividend warrants.