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Innovation pays dividends…in gift cards

Monday, 1 June 2015

Equiniti’s launch of the ‘Dividend Plus’ scheme with M&S is a hint of the future for payment choices

Back in March, Marks & Spencer’s private investors were presented, for the first time, with a dividend option of an ‘M&S Shareholder Card’. Few recipients will have realised that this brand new choice is also an industry first.

What is an M&S Shareholder Card? 
The new M&S Shareholder Card will operate much like a gift card; offering credit that can be used to shop in M&S’ UK stores and online. It enables the shareholder/customer to use the money from their dividend payment to purchase credit, up to the value of £1000 at a 10% discount of its face value.

Understanding that loyal private investors are also great customers
Amanda Mellor, M&S Group Secretary & Head of Corporate Governance commented: “Our private investors are also some of our most loyal customers and we’re continually looking at how we can best engage this important group of stakeholders. We’ve listened carefully to their feedback and believe that in the new Equiniti scheme, we’ve identified a simple mechanic that rewards their investment in the company”.

Collaboration is key
Mark Bullen, Director of Share Registration Services at Equiniti is thrilled that the Dividend Plus scheme with M&S has launched. Mark notes ‘it has been a great example of successful collaboration with a client who shares the same goals as ourselves, M&S has been great throughout’.

Feedback so far? 
There has been a positive shareholder response and the press have taken a real interest. Perhaps this is because Marks & Spencer is such a well-loved British retail institution? Maybe so, but this is also something different for shareholders. It is a first step to extending the choice of payment formats for dividends from Equiniti; introducing new ideas to a significant number of UK private investors.

Don’t miss out
If you are a shareholder in Marks & Spencer, there is still time to choose but you will need to elect your dividend preference with Equiniti by 19th June 2015.

Future gazing
Equiniti’s culture of innovative thinking and doing is at its heart. The payments market is one of a number of key areas that Equiniti is currently exploring. Mark notes ‘It is exciting to consider what this means for the future’.

Would you like more information?
If you are a M&S shareholder, you can call the Marks and Spencer shareholder helpline on:

0345-609-0810 from the UK
+44 121-415-7071 from overseas 
0371 384 2255 Textel/ Minicom

Lines are open Monday to Friday 8.30am to 5.30pm; excluding UK Bank Holidays. 

For business enquiries regarding the ‘Dividend Plus’ scheme, please contact your Relationship Manager.