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Maybank proposes shareholders reinvest dividends into shares
Written by Joseph Chin
Thursday, 25 March 2010 20:24
KUALA LUMPUR: MALAYAN BANKING BHD  has proposed a recurrent and optional dividend reinvestment plan that allows shareholders to reinvest their dividend into new ordinary shares of the bank.
It said on Thursday, March 25 the plan was part of its efforts to enhance and maximise shareholders’ value via the subscription of new Maybank shares.
Maybank said the issue price of a new Maybank share would at a discount of not more than 10% to the five-day volume weighted average market price of the shares immediately prior to the price fixing date.
"The reinvestment plan will provide the shareholders with greater flexibility in meeting their investment objectives, as they would have the choice of receiving cash or reinvesting in the company through subscription of additional Maybank shares without having to incur material transaction or other related costs," it said.