CDS partners Sampath Bank to provide comprehensive dividend pay-out solution

Monday, 21 October 2024 00:24 - - {{hitsCtrl.values.hits}}

CSE CEO Rajeeva Bandaranaike (left) and Sampath Bank Managing Director Ayodhya Iddawela Perera exchange agreement signed between the two organisations

Others from left, in the front row: CDS Senior Assistant Manager – Corporate Solution and CRM Hemal Weerasinghe, CDS Head Nadeera Athukorale, CSE SVP – Finance and Administration Kusal Nissanka, Chief Market Operations Officer Chandrakanth Jayasinghe, Sampath Bank Chief Strategy Officer Sanjaya Gunawardana, DGM – Transaction Banking and Inward Remittances Rajendra Ranasinghe, Manager – Transaction Banking Bhathiya Hettiarachchi, Manager – Transaction Banking, Cash Management and Integrations Nileesha Ponnamperuma

Top row from left: Sampath Bank Head of Network Service Centre Nalin Liyanage, Manager – Transaction Banking and Trade Solutions Hasika Kularatne, CDS – Senior Assistant Manager – Demat Compliance and Risk Ruchira Jayasinghe, CSE Assistant Manager – Group Compliance Operations Trishanie Alexander, SVP – Legal, Enforcement and Compliance Lankesha Molligoda, and CDS Senior Assistant Manager/Project Lead – Depository Operations and Research and Development Strategy Vindhya Colombage

The Central Depository Systems Ltd., (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 formalised 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 utilise 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 customised methods. The partnership represents a crucial step in improving the dividend distribution process for companies and enhancing their overall investor relations.

CSE CEO Rajeeva Bandaranaike said: “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.”

Sampath Bank PLC Managing Director Ayodhya Iddawela Perera said: “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.”