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We're excited to announce that paying dividends and distributions to your international shareholders is now faster and easier. Computershare's International Currency Exchange (ICE) service has launched in Canada.
This convenient currency conversion payment service allows your international shareholders to choose the local currency in which they want to receive their payments. Computershare is the first registrar in Canada to offer this shareholder service.
If your organization has an international shareholder base, you may now offer them:
- Payment in more than 85 local currencies
- A choice in receiving their funds through a cheque or wire payment
- Competitive foreign exchange rate
- Easy one-time enrollment for ongoing and future payments
Benefits for your organization
Your shareholders will appreciate this service that will give them faster access to their funds. It also benefits your company:
- Increase shareholder satisfaction with a flexible payment option in more than 85 local currencies
- Ensure entitlements reach your shareholders, fulfilling your corporate governance obligations
- Save money by reducing unclaimed and replacement payments
- Receive competitive exchange rates with no foreign exchange risk or requirements for your organization
- Offer this shareholder service at no cost to your company
How to offer ICE to your shareholders
As an issuer, you will need to complete consent documentation allowing the ICE service to be offered to your shareholders.
Once documentation is complete, an enrollment form and promotional flyer will be inserted and mailed with the next dividend payment. Shareholders can complete the easy, one-time enrollment through a paper form or the Investor Centre portal, and select their preferred local currency. This is a shareholder paid service with a minimal transaction fee and competitive foreign currency exchange rate.
Receiving proceeds in a local currency makes electronic payments possible in more countries, and having cheques drawn on a local bank avoids the timely and costly “collection” process required for cashing Canadian dollar cheques.
When shareholders complete the one-time enrollment for dividend payments, they may request the option of having all their outstanding Canadian or US dollar cheques replaced with a single payment in their chosen local currency. All future dividends will be paid in the currency they select until the election is changed.
Providing International Currency Exchange is another way Computershare continues to enhance our services for issuer clients — and your shareholders — to make dividend payments easier.
Please contact your relationship manager for more information about offering the International Currency Exchange service to your shareholders.