Changes to the processing of optional dividend and dividend reinvestment plan without rights

15.10.2020

Clearstream Banking1 informs customers of the changes to processing of the optional dividend and dividend reinvestment plan without rights (DVOP/DRIP) events. 

Effective

immediately

the process of cash bookings on proceeds linked to these events will be enhanced.

The former Clearstream Banking procedure consisted of crediting cash dividend on the position instructed for the securities option and of debiting the cash for exercising the reinvestment option. The difference between the two amounts was represented by the fractional cash entitlement.

Clearstream Banking has optimised its cash booking process by calculating directly and crediting only the fractional entitlement via a single cash movement. The booking of the fractional entitlement and of the securities proceeds are both confirmed via corresponding MT566 Corporate Action Confirmation.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.