13/03/2018 06:08 AST

The Dubai Financial Market (DFM) said it has launched an innovative Dividend Distribution System (DDS) as part of its strategy to provide market participants with smart and efficient solutions.

The new system enables the DFM to distribute the dividends to investors' bank account or iVESTOR card account without any human intervention. The DFM has successfully managed the dividend distribution relating to the financial year 2016, distributing a total of Dh13.3 billion to 429,000 investors. This brought up the number of listed companies utilising DFM's dividends distribution service to 35 companies in 2017. The launch of the new system underlines DFM's readiness for the dividend distribution of financial year 2017, expected to commence within the next few weeks.


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