Over the weekend I went to submit AXIS REIT DRP (Dividend Reinvestment Plan) to their share registrar Symphony Boardroom. AXIS REIT is a listed REIT (Real Estate Investment Trust) on Bursa Malaysia. It has a stock symbol of AXREIT. This REIT primarily invests in industrial properties.
DRP stands for dividend reinvestment plan, it basically means the company AXIS REIT is giving investors an option to get their dividends in the form of shares aka extra AXIS REIT shares.
There’s 3 options investors can choose
1. All dividends converted to AXIS REIT shares.
2. Partial dividends converted to AXIS REIT.
3. All dividends in cash.
Only option 1 and option 2 requires filling up the AXIS REIT DRIP form which is mailed to all investors. For option 3 where the investor opts to get all dividends in cash, no action is required, just act as if the DRIP didn't exist.
Previously I used to submit the DRIP form to Symphony Share Registrar at Ara Damansara but this time I saw the address was to be sent to Symphony Share Registrar at Menara Symphony at Petaling Jaya. Some companies allow DRP exercise to be done online but for AXREIT, the process is still manual so the DRP letter still has to be posted to Symphony.
Submitting the form was a breeze, there is a drive through postbox for handling the DRIP form, no need to go on weekdays or stop to find parking. Alternatively if you choose to send via mail, remember to attach a pos office stamp for delivery fees.
For investors with less than 16,000 units, revenue stamp is exempted but for investors with units more than 16,000, revenue stamp of RM10 is required.
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