BP PLC Q2 2017 Scrip Dividend Reference Price (2817O)
17 August 2017 - 7:24PM
UK Regulatory
TIDMBP.
RNS Number : 2817O
BP PLC
17 August 2017
17 August 2017
BP p.l.c.
Second quarter interim dividend for 2017
Scrip Dividend Programme
On 1 August 2017 the Directors of BP p.l.c. announced that the
interim dividend for the second quarter 2017 would be US$0.10 per
ordinary share (US$0.60 per ADS). This interim dividend is to be
paid on 22 September 2017 to shareholders on the share register on
11 August 2017. The dividend is payable in cash in sterling to
holders of ordinary shares and in US dollars to holders of ADSs. A
scrip dividend alternative will be made available for this dividend
allowing shareholders to elect to receive their dividend in the
form of new ordinary shares and ADS holders in the form of new
ADSs.
The 'Reference Share Price' for the issue of new ordinary shares
under the scrip dividend alternative is:
US$5.798 for each new ordinary share.
For holders of ordinary shares this is equivalent to 1 new share
for
approximately every 57.980 shares held prior to the
ex-dividend
date of 10 August 2017.
The Reference Share Price is the average of the US dollar
equivalent of the closing mid price quotation for a BP ordinary
share on the London Stock Exchange Daily Official List for the five
consecutive dealing days beginning on the ex-dividend date of 10
August 2017. The US dollar equivalent price each day is calculated
from the sterling closing mid price using the exchange rate
published by the Bank of England at 4pm each day.
The 'Reference ADS Price' for the issue of new ADSs under the
scrip dividend alternative is:
US$34.838 for each new ADS.
For holders of ADSs this is equivalent to 1 new ADS for
approximately every 58.063 ADSs held prior to the ex-dividend date
of 9 August 2017.
The Reference ADS Price is calculated by multiplying the
Reference Share Price by six (as there are six ordinary shares
underlying each ADS) and adjusting for the fee payable to the
Depositary under the ADS Deposit Agreement (US$0.05 per ADS). Prior
to the 2012 first quarter dividend payment stamp duty reserve tax
("SDRT") of 1.5% was deducted from this calculation, but following
a tax tribunal decision in 2012, HM Revenue & Customs will no
longer seek to impose 1.5% SDRT on issues of UK shares and
securities to non-EU clearance services and depositary receipt
systems.
Dividends payable in cash in sterling on 22 September 2017 will
be converted from US dollars at the average of the market exchange
rates for the four dealing days from 6 to 11 September 2017. The
sterling cash dividend will be announced to the London Stock
Exchange on 12 September 2017.
The latest date for receipt of elections to participate in the
Scrip Dividend Programme for this interim dividend is 5 September
2017. Shareholders must return their mandate form or otherwise
input their CREST elections, to be received by BP's Registrar,
Capita, by 5.00 pm (London time) on 5 September 2017, and ADS
holders must return their election form to the Depositary, JPMorgan
Chase Bank N.A., by 5.00 pm (New York time) on that date. Elections
received after this deadline will apply to subsequent dividends
only. Unless revoked by you, your scrip dividend election will
apply for all future dividends for which a scrip dividend is
offered. Evergreen elections for CREST shareholders will not be
accepted and elections will revert to cash by default after the
payment of each dividend.
Details of the second quarter 2017 dividend and timetable are
available at www.bp.com/dividends and details of the Scrip Dividend
Programme are available at www.bp.com/scrip.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DIVLIFFATFIDLID
(END) Dow Jones Newswires
August 17, 2017 05:24 ET (09:24 GMT)
Bp (LSE:BP.)
Historical Stock Chart
From Apr 2024 to May 2024
Bp (LSE:BP.)
Historical Stock Chart
From May 2023 to May 2024