HomeBusiness DigestC-TRADE introduces Dividend Payment Functionality for added convenience

C-TRADE introduces Dividend Payment Functionality for added convenience

A retail investor can be defined as an individual who trades securities for his or her own personal account rather than for an organisation. Also known as retail investors, individual investors typically trade in much smaller amounts than institutional investors. Most individual investors lack the knowledge in the ins and outs of capital markets operations. This however, should not deter them as C-TRADE is consistently working to ensure the market becomes more efficient and retail investor-friendly.

Due to operational challenges related to payment of dividends to individuals investors. C-TRADE now gives individual shareholders an option to receive their dividends through the C-TRADE platform. A dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form. A company’s dividend is decided by its board of directors and it requires the shareholders’ approval.

C-TRADE has created avenues that make it easier for individual investors to easily access, re- invest or withdraw their dividends whether in foreign or local currency. Investors simply have to download the C-TRADE mobile App from Google Playstore or dial *727# on their mobile phone. Alternatively they can visit www.ctrade.co.zw to access a newly created C-TRADE account. Under ‘My Profile’ click PRE-CREATED ACCOUNT, enter Shareholder number (refer to your dividend advice slip) and complete all missing details as requested.

C-TRADE will activate the account, giving the investor access to their C-TRADE portfolio to view their dividend. Investors using foreign currency to buy shares, simply have to enter the foreign currency amount they want to use and select ‘CONVERT’ to activate the process of conversion to ZWL currency. Once the conversion has been done through the bank, the ZWL wallets will be credited with the equivalent ZWL amounts and they will proceed to place an order. Alternatively, to withdraw your dividends from C-TRADE you will be required to convert to ZWL and withdraw the dividends through the C-TRADE normal withdrawal procedure. Currently the counter which is already active is Seed Co international and C-TRADE will be adding more counters.

Retail investors who want to start trading on C-TRADE simply have to create a C-TRADE account through USSD, a mobile app downloaded on Google Play Store or an online investor portal. The USSD application can be utilised by all mobile network subscribers by simply dialing a single short code *727# across all networks. This is a very significant development that enables every citizen access through a platform that does not require the internet.

C-TRADE has investor interface tools such as the Online Investor Portal strictly meant for retail investors. There is also an app-based solution for retail investors on smart phones. The USSD-based solutions are targeted at non-smart phone users and integrates mobile money services.  Through these tools, retail investors can trade securities, make or receive payments, obtain statements and follow capital market news anytime, anywhere.

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