Published June 18, 2009

OCBC's issued share capital up 2.1%

	Email this article
	Print article
	Feedback

OVERSEA-CHINESE Banking Corporation's (OCBC) issued capital has increased by 2.1 per cent to 3.19 billion shares following the allotment of 67.3 million new units under its scrip dividend scheme.

The scheme grants shareholders the option of receiving the final dividend of 14 cents a share for financial year 2008 in the form of shares instead of cash.

The new shares were issued at $4.83 - a 10 per cent discount to the average last dealt trading prices between April 24 and April 28.

The banking group declined to reveal how much cash it has conserved as a result of the scheme, but a spokesman said: 'We received a very strong response.'

OCBC has received in-principle approval from Singapore Exchange for the listing and quotation of the new shares with effect from today.

A concessionary brokerage fee of $15 (excluding GST) per contract for a period of one month from today is available for shareholders with OCBC odd lots - less than 1,000 shares - who trade them through OCBC Securities.

Shareholders who have elected to receive their dividend in cash were paid yesterday.