Intu Properties Plc Dividend Declaration
10 October 2017 - 7:00PM
UK Regulatory
TIDMINTU
INTU PROPERTIES PLC (the "Company")
LEI: 213800JSNTERD5CJZO95
Regulated Information Classification: Additional regulated information required
to be disclosed under the laws of a Member State of the EU.
10 October 2017
CONFIRMATION OF DIVIDEND TIMETABLE FOR THE CASH 2017 INTERIM DIVIDEND, EXCHANGE
RATE AND NOTIFICATION THAT SCRIP DIVIDEND ALTERNATIVE WILL NOT BE OFFERED
On 27 July 2017, the Directors proposed an interim dividend for 2017 of 4.6
pence per share (the "dividend"). The dividend will be wholly paid as a
Property Income Distribution ("PID") which will be subject to deduction of a 20
per cent UK withholding tax unless exemptions apply. Today we are announcing
the dividend payment date, 21 November 2017.
A scrip dividend alternative will not be offered on this occasion and all
shareholders will therefore receive the dividend in cash.
For further information regarding their holdings, or the interim dividend, we
recommend that shareholders contact our registrars in the UK or South Africa as
follows:-
UK Shareholders:
Capita Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU
(Tel: +44 (0) 371 664 0300). Calls are charged at the standard geographic rate
and will vary by provider. Calls outside the United Kingdom will be charged at
the applicable international rate. Lines are open between 9.00am - 5.30pm,
Monday to Friday excluding public holidays in England and Wales.
SA Shareholders:
Terbium Financial Services (Pty) Ltd, 31 Beacon Road, Florida-North,
Johannesburg, 1709, South Africa (postal address: PO Box 61272, Marshalltown,
2107, South Africa) (Tel: 0860 2222 13).
or by download from
intugroup.co.uk/en/investors/shareholder-information/dividends/
DIVIDEND TIMETABLE
A timetable of events in relation to the dividend is set out below.
Currency Conversion Date (Sterling/Rand) Monday 9 October 2017
Finalisation Date Tuesday 10 October 2017
Ex-dividend date (SA) Wednesday 18 October 2017
Ex-dividend date (UK) Thursday 19 October 2017
Record Date (both UK and SA) Friday 20 October 2017
Last date for receipt of Tax Exemption Friday 20 October 2017
Declaration Forms to permit dividend to be
paid gross (UK Shareholders only)
Dividend payment date (UK & SA) Tuesday 21 November 2017
SA shareholders should note that, in accordance with the requirements of
Strate, the last day to trade cum-dividend will be Tuesday 17 October 2017 and
that no dematerialisation or rematerialisation of shares will be possible from
Wednesday 18 October to Friday 20 October 2017 inclusive. No transfers between
the UK and South African registers may take place from Tuesday 10 October to
Friday 20 October 2017 (both days inclusive).
EXCHANGE RATE
(i) Shareholders receiving the dividend in cash:
The Company confirms that the South African Rand exchange rate for the 2017
interim dividend will be 18.27570 ZAR to 1 GBP. Shareholders will receive a
cash dividend per ordinary share which will be paid wholly as a PID as follows:
UK Shareholders SA Shareholders
Gross amount of PID GBP pence 4.60 84.06822 ZAR cents
Less 20% withholding tax*/20% SA GBP pence 0.92 16.81364 ZAR cents
dividends tax**
Net PID dividend payable GBP pence 3.68 67.25458 ZAR cents
*Certain categories of UK shareholder may apply for exemption, in which case
the PID will be paid gross.
**This is the net position after SA Shareholders have claimed back 5% from HMRC
under the double tax agreement between the United Kingdom and South Africa
(ii) Notes for South African shareholders
A 20 per cent UK withholding tax will be deducted from the cash PID. The
Company will account to Her Majesty's Revenue & Customs ("HMRC") in sterling
for the total UK withholding tax deducted. SA dividends tax, at the rate of 20
per cent will apply to the cash PIDs payable by the Company unless the
beneficial owner of the dividend is exempt from SA dividends tax.
Under the double tax agreement between the UK and South Africa, the maximum tax
payable in the UK is 15 per cent. Therefore on application by South African
shareholders, 5 per cent of the PID (i.e. one quarter of the 20 per cent UK
withholding tax deducted from a PID) is claimable from HMRC, resulting in an
effective UK withholding tax rate of 15 per cent. Settlement of any claims for
refund will be calculated and settled in sterling by HMRC. As UK withholding
tax will be applicable at an effective rate of 15 per cent, the SA dividends
tax liability will be reduced to 5 per cent. In such cases the overall tax
deducted will therefore be 20 per cent (15 per cent in the UK and 5 per cent in
South Africa).
The information given in section (i) above will assist with applications for
refunds. For information on PIDs and refund claims, including claim forms and
guidance on how to complete them, visit intugroup.co.uk/en/investors/
shareholder-information/real-estate-investment-trust/.
The number of shares in issue as at the declaration date (i.e. 10 October 2017)
is 1,355,040,243 ordinary shares of 50p each.
The above information, and the guidelines on the taxation of dividends,
including when taken as scrip shares, contained in the Scrip Dividend Scheme
Booklet, is provided as a general guide based on the Company's understanding of
the law and practice currently in force. Any shareholder who is in any doubt
as to their tax position should seek independent professional advice.
END
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