Riyadh – Mubasher: The Securities Depository Center Company (Edaa) has launched the “Paying Agent” services to all market participants.
The new service is an optional service for listed companies and funds, and it will improve the current distribution procedures and enhance its quality, according to a recent statement by the Saudi Stock Exchange (Tadawul).
The step comes along with the entity’s strategy to provide innovative and efficient solutions for all market participants in line with international standards, as Edaa will distribute cash dividends to eligible shareholders on behalf of issuers via members.
“Through introducing the Paying Agent service on Tadawulaty, Edaa aims to provide issuers with comprehensive services to facilitate completing procedures related to dividends distribution to ensure prompt cash transfers, accurate shareholders’ information and dividends entitlements,” the statement highlighted.
The newly launched service will also enhance control over the systems and reducing the costs of cash transfers for issuers.
