The Central Depository Systems (Pvt) Limited (CDS) and Sampath Bank PLC have entered into a significant partnership to enhance the efficiency of dividend disbursement services for listed companies on the Colombo Stock Exchange (CSE). By combining their expertise, CDS and Sampath Bank aim to strengthen the capital market infrastructure and enhance the experience for listed companies and investors.
This collaboration is formalized through a service agreement, under which Sampath Bank will provide its Total Dividend Solution via the Cash Management Suite under Transaction Banking, and CDS will utilize this solution for its clients. This solution will enable listed companies on the CSE to seamlessly handle their dividend pay-outs, offering multiple options for disbursements, including electronic funds transfers, cheque processing, and other customized methods. The partnership represents a crucial step in improving the dividend distribution process for companies and enhancing their overall investor relations.
Mr. Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange remarked, “This collaboration provides listed companies and their shareholders with a modern, efficient solution. For companies, it allows them to focus on their core operations while streamlining the administrative process. Shareholders will benefit from quicker, direct transfers, reducing delays and errors. This partnership sets a new standard for dividend distribution in Sri Lanka, further supported by similar agreements with other leading commercial banks.”
Ms. Ayodhya Iddawela Perera, Managing Director of Sampath Bank commented, “We are proud to partner with CDS to offer a seamless and efficient dividend pay-out solution. This collaboration reinforces our commitment to providing innovative cash management solutions that support the evolving needs of Sri Lanka’s capital market. Together, we aim to enhance the experience for listed companies and their investors, driving forward the growth of our financial ecosystem.”