What happens when the dividend of a stock traded in the Singapore Exchange is in a foreign currency like MYR?
Will it payout in MYR in the brokerage account or in SGD in the brokerage account?
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Tan Choong Hwee
25 Apr 2021
Solutions Specialist at Providend
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Depends on the company dividend announcement.
For example:
Top Glove (https://links.sgx.com/1.0.0/corporate-actions/6...) declared dividend rate MYR 0.252 per share, but payment rate SGD 0.08216 per shares. Payment was in SGD.
Riverstone (https://links.sgx.com/1.0.0/corporate-actions/6...) declared dividend rate MYR 0.16 per share, and no mentioned of payment rate, should be paying MYR.
Many brokerage accounts are multi-currency accounts, so they will credit dividends into the corresponding foreign currency account.