BCS World of Investments has started paying out securities blocked on NSD accounts

The brokerage company BCS World of Investments began paying ruble dividends and coupons on some securities that were blocked by the European depositories Clearstream and Euroclear in the accounts of the National Settlement Depository (NSD) in 2022. Payments concern only obligations in US dollars and euros, reported press service companies.

The press release states that payments are made in accordance with by decree Russian President Vladimir Putin on September 9, receipts will begin today, December 25. The press service reported that the company will primarily pay dividends on foreign shares to individuals, as well as payments from corporate actions on shares, and secondly, coupons on Eurobonds and their redemption.

BCS World of Investments emphasized that payments from company actions will not be made if the corporate action occurred before September 9. The dollar and euro rates at which foreign currency payments will be converted into rubles correspond to the official rate of the Bank of Russia on the day of the conversion carried out by NSD. The conversion schedule can be found at website depository.

The fulfillment of obligations to investors in subsequent queues will be carried out as funds are received from higher-level depositories, the press service reported.

December 15 NSD reported, which began the settlement process for blocked foreign securities. To do this, the depository replaced obligations in foreign currency with obligations in rubles. Funds will be paid to participants (depositories) by December 21, after which the money will be transferred to specific holders of blocked securities. NSD made another replacement of obligations on December 18 and 21. This year the conversion will be made one more time – on December 28.

Erdni Kagaltynov