The Covid-19 lockdowns highlighted inefficiencies with the payment of dividends through conventional means like checks or bank mandates. These experiences have given renewed impetus to distribute dividends via CREST, the UK’s central security depository, instead. As a result, Euroclear UK & International, the owner and operator of CREST, has launched a campaign aimed at both corporates and intermediaries to encourage the use of CREST for this purpose.
There are benefits for both a corporate and its shareholders to jumping on this bandwagon. Before doing so, however, it is key to understand how the CREST distribution mechanism works. There . . .
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