Binance to Distribute Cash Dividends to Tokenized Apple and IBM Stockholders

Binance is set to distribute cash dividends to investors holding tokenized Apple and IBM stocks. The dividend will be automatically reinvested into the underlying asset after taxes and fees are deducted, resulting in additional tokenized stock.

To qualify for the dividend, investors must hold AAPLB or IBMB at the snapshot scheduled for 9 a.m. Korea time on August 10. This is when Binance will take a record of eligible holders.

Binance's bStocks service, which allows users to convert tokenized stocks into underlying shares, will be temporarily suspended from August 8 until the dividend payment process is complete.