Participation rate for OCBC's scrip dividend scheme made up 75.2% of shareholdings

THE participation rate in OCBC Bank's scrip dividend scheme comprised three-quarters (75.2 per cent) of shareholdings, with nearly 67.5 million new ordinary shares allotted and issued to shareholders, the bank said on Wednesday.

OCBC had declared a dividend of 15.9 cents a share for the first half of the year, with the scrip dividend scheme applicable.

Following the allotment and issuance of the new shares, the number of issued ordinary shares of the bank will increase by 1.5 per cent to about 4.5 billion, said the bank.

The new shares will rank pari passu in all respects with existing ordinary shares of the bank, and are expected to be listed and credited on Oct 8. Members who did not take part in the scheme are to be paid the FY20 interim dividend in cash on Oct 7.

Following the listing and crediting of new shares, members who wish to dispose or acquire odd lots of shares should contact their brokers to do so. They may also reach out to OCBC Securities, which will facilitate odd lot trading of up to 99 shares in any one contract at a concessionary brokerage fee of S$15 (excluding GST) per contract for a period of a month from the date of the listing and crediting of the new shares.

Shares of OCBC ended Wednesday flat at S$8.62.