Listed companies now must deposit cash dividend with a detail to bank accounts

The capital market regulator today directed all the listed companies to deposit cash dividend with a clear detail at the shareholders’ bank accounts.

The Securities Board of Nepal (SEBON) -- issuing a directives -- asked the listed companies to deposit cash dividend at the shareholders account with details, because only the share registrar's name is mentioned in the bank statement currently. But the regulator directed the companies to mention with a details including name of the company, fiscal year and the rate of the dividend.

The shareholders have been repeatedly complaining with the regulator about the lack of clear information while receiving the dividends in the bank account.

"The company must have to clearly include the name, income and amount while paying cash dividend to the shareholder's bank account by itself or through its share registrar," the directives read.