ScanGroup, East Africa's leading advertising agency, has been mailing its dividend cheques for the 2007 financial year over the last seven days or so. Atached to the cheques is the announcement that ScanGroup has entered into an agreement with Equity Bank (where ScanGroup operated its dividend account) to allow shareholders to encash, free of any bank charges, dividend cheques "of value less than or equal to ten thousand Kenya shillings (10,000.00/-)."
Encashment is allowed at any branch of Equity Bank, Kenya's biggest bank in terms of customer accounts.
Many of ScanGroup's shareholders are, of course, small retail investors, each with only the 300 shares which were allocated during the IPO. So their cheques are a very small fraction of the said maximum. Still, it is a kind thought from both ScanGroup and Equity Bank.
Shareholders with any dividend-related queries are advised to contact Comp-rite Kenya Limited at Tel: (20) 2212-030; or at this Email address: shares@comp-rite.com
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