Bank of Cyprus to stop cheque dividend payments; all future payments via electronic transfer only
The Bank of Cyprus announced it will cease issuing dividend payments by cheque, transitioning exclusively to electronic transfers starting with the €0.24 interim dividend due on October 21, 2026. This policy applies to shareholders holding interests indirectly through depositary interests on the Cyprus Stock Exchange. Shareholders must be registered by the record date of September 22, 2026, and provide valid bank account details by this date to receive payments on time.
The move, approved at the annual general meeting in May 2026, aims to expedite the clearance of funds, reduce risks such as lost or stolen cheques, lower operational costs, and support the bank's sustainability goals by cutting paper usage. Those who fail to provide bank details by the deadline will have their dividends retained in a company account for six years without accruing interest.
Shareholders can submit bank details through various methods, including Bank of Cyprus internet banking, mobile app, or by filling out forms available on the company website. The bank encourages timely submission to avoid payment delays or potential forfeiture of unclaimed dividends per company regulations.
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