Common use of Optional Dividends Clause in Contracts

Optional Dividends. 11.5.1 Unless the Client elects otherwise in terms of clause 11.5 dividend shall be paid in cash. The Client can elect to apply the dividend by acquiring for additional shares in the issuer. The shares to be acquired by the Client as aforesaid shall be proportional to the shares held by the Client as at the record date for the dividend. The shares will be allocated once the reinvestment rate is confirmed for the value Pay Date, once the shares have been received by the Custodian. 11.5.2 The Client shall not be entitled to receive payment of a dividend in a different currency to the currency in which the dividend has been declared.