Bank of Cyprus issues call to shareholders for electronic dividend payment

The Bank of Cyprus (BoC) on Friday released a statement notifying its shareholders that they can now receive their dividends electronically, while also providing them with the necessary information to carry this out.

“The Bank of Cyprus continues creating value for its shareholders,” the bank said.

“In this context, and subject to approval by the European Central Bank of a cash dividend payment, it enables its shareholders to receive their upcoming and any future dividends electronically,” it added.

In terms of how shareholders can receive their dividend payments electronically, the bank said that there are four different ways that this can be done.

Firstly, Cyprus Stock Exchange (CSE) shareholders who are customers of Bank of Cyprus Public and 1bank subscribers may submit their instructions to receive their dividends electronically to an account in their name with the Bank of Cyprus using Internet Banking, before navigating to their profile, and then dividend payments. Alternatively, they can use the BoC Mobile app, where they can navigate to personal information, and then dividend payments.

The second option refers to CSE shareholders who are customers of the Bank of Cyprus, but are not subscribers to 1bank. People in this group may become subscribers without any charge and obtain access codes through Internet Banking or the BoC Mobile app and submit their instructions accordingly.

Another option, for CSE shareholders who are not customers of the Bank of Cyprus, is for them to become customers by opening an account with the Bank of Cyprus through the BoC Mobile app and submitting their instructions accordingly.

Finally, CSE shareholders who wish to receive their dividends by electronic transfer to other financial institutions may submit their instructions in writing by sending the relevant forms in accordance with the instructions specified therein. The form is available here.

Meanwhile, the bank explained that joint investors and legal entities may complete the relevant forms available here.

In terms of a deadline, the bank specified that “CSE Shareholders wishing to receive their dividend electronically may submit their instructions no later than 10 working days before the payment date“.

“The payment is scheduled for 14 June 2024, subject to approval by the annual general meeting on May 17, 2024,” the bank added.

Finally, the announcement noted that “if the instructions are not submitted within the deadline, they will take effect from the following dividend payment”.