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Anonymous
Maximising the use of Scrip Dividend Scheme
Given how OCBC/DBS/UOB issues scrip dividends thay round up if the amount i am getting is 0.5 shares and above, is it in my best interest to opt for just 0.5 shares? For example, if i have 100 OCBC shares, is it best that i just opt for 38 shares to receive the scrip dividend (1 share = 11.93), and the remaining 62 shares as cash dividend (0.159/share)? Will this result in me getting 1 share and $9.858?
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Tan Choong Hwee
28 May 2021
Solutions Specialist at Providend
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Nice trick! Your calculation is correct that you will get 1 share and $9.858 cash if you opt for 38 shares to receive scrip dividend and 62 shares to receive cash.
Compare with receiving scrip dividend for the whole 100 OCBC shares, you will get only 1 share (round down from 1.33), i.e. you receive extra $9.858 if you split your shares into cash and scrip dividend.