Some listed companies allow their shareholders to collect their dividends in cash or in script.

Which is a better option?

It depends on the price for which the script dividend is being charged and the current market price. 

Here are two examples:

OCBC - script dividend charged at $11.93. Current price is $12.36. 
Conclusion - better to collect the script dividend.

UOB - script dividend charged at $26.31. Current price is $26.15.
Conclusion - better to collect the dividend in cash.

By collecting the script dividend, the shareholder enjoys a saving in the brokerage and the CDP fee for buying the same amount of shares in the market. 

Tan Kin Lian