1.8.3 Initiate Processing for Cash Dividends involving Payment

This topic provides the systematic instructions to initiate Processing for Cash Dividends involving Payment.

1. Initiate the processing of a cash dividend for which any part of the dividend is being distributed through payment.
2. Click Payment Details button to specify the payment details for the dividend.
   The Fund Dividend Payments screen is opened. The payment record for the selected fund dividend is displayed.
3. The system defaults the payment date in this screen for the dividend as follows:
   1. Dividend Payment Date = Last dividend processed date + Dividend payment frequency + Payment lag, if any.
   2. You can override the defaulted payment date, if necessary.
      If you do, the date you specify must not be earlier than the application date.
   3. The system also defaults the issue date for the dividend as the application date.
   4. The system assigns, by default, reference number for the dividend payment.
      You can override it if necessary.
   5. The accounts to which the payment must be made, are displayed in the screen.
      The following details are displayed for each account:

      • Bank and branch where the account resides
      • The number of the account and the name of the account holder
      • The account currency
      • Any applicable remarks, as free format text, in the Remarks field.
4. Select Click here to download covering letter link if a covering letter is required, and click Browse to locate the format on the local disk or network.
5. Click Ok after you have specified the details to save your changes and exit theFund Dividend Payment screen.
6. Select Yes in the Process field in the main FCIS Process Dividend Payment screen, for the fund for which you want to initiate the processing.
7. Click Execute Now button to initiate the processing.
   The system displays a completion message when the processing is completed.