Companies can now pay their dividend by crediting the shareholder’s bank account with the introduction of ^eDividend, a new electronic dividend payment system available via Maybank2^e.net, Maybank’s enterprise cash management portal for enterprise customers.

The President and CEO of Maybank, Datuk Amirsham A Aziz, officially launched ^eDividend at a ceremony held today at Menara Maybank. Present at the launch were Maybank’s corporate customers as well as representatives from the various registrars of companies.

“Companies with a shareholding structure that requires dividend payment distributions to shareholders and registrars managing dividend payments are now able to benefit from ^eDividend, a new web-based dividend payment services offered on Maybank2^e.net platform, said Datuk Amirsham.

“e-Dividend is a comprehensive dividend payment system that streamlines dividend processing and payment. Maybank is the first local bank to introduce this innovative product that offers many benefits to our corporate customers, among them, cost savings, convenience, ease of use, security and flexibility. It is available on Maybank2^e.net and accessible anywhere, 24 hours a day, all year round,” added Datuk Amirsham.

^eDividend solution helps to reduce turnaround time in processing dividend payment by automating many of the processes such as dividend and tax calculations, warrant processing and printing of physical warrants or cheques. It also offers a new auto-crediting facility that pays the dividend directly into a shareholder’s bank account as well as a new report generation facility that outputs various reports on the status of the dividend payment. The customer can conveniently view or download and reconcile their reports online via Maybank2^e.net.

“It reduces processing cost, is time saving as well as increase productivity and efficiency for the corporation. It’s straight-through processing solution eliminates the tedious manual processing and takes less manpower in preparing dividend payments or monitoring the status of the dividends,” said Datuk Amirsham.

“The new auto-crediting facility dispenses with cheque issuance by the company and cheque deposit by the shareholders. Shareholders also receive their dividends much earlier and the dividend payment can be made to an account in Maybank or other banks. The shareholder needs to provide the account number to the company or registrar. Alternatively it can also print cheques and warrants for the conventional mode of dividend payment for collection at the counter or mailing to shareholders,” added Datuk Amirsham.

“Maybank is the first customer to successfully implement the ^eDividend system by its registrar since October 2003 and this demonstrates the capability of this service. The registrar is also enjoying the benefits of the system,” announced Datuk Amirsham.

^eDividend expands the other range of enterprise cash management solutions available on Maybank2^e.net namely EPF, SOCSO, salary and other payment facilities for enterprise customers.

For more information on eDividend customers can contact the Helpline Telephone at 1-300-887788; or email to Maybank2e-inquiry@maybank.com.my; or log on to www.maybank2e.net.