Intu Properties PLC Dividend Declaration (4144D)
09 October 2018 - 8:10PM
UK Regulatory
TIDMINTU
RNS Number : 4144D
Intu Properties PLC
09 October 2018
INTU PROPERTIES PLC (the "Company")
LEI: 213800JSNTERD5CJZO95
9 October 2018
CONFIRMATION OF DIVIDEND TIMETABLE FOR THE CASH 2018 INTERIM
DIVIDEND, EXCHANGE RATE AND NOTIFICATION THAT SCRIP DIVIDEND
ALTERNATIVE WILL NOT BE OFFERED
On 26 July 2018, the Directors proposed an interim dividend for
2018 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, 20 November 2018.
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:
Link 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:
Link Market Services, 13th Floor, 19 Ameshoff Street,
Braamfontein PO Box 4844 Johannesburg, 2000, South Africa (Tel: +27
(0) 861 546572).
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 8 October 2018
Finalisation Date Tuesday 9 October 2018
-----------------------
Ex-dividend date (SA) Wednesday 17 October
2018
-----------------------
Ex-dividend date (UK) Thursday 18 October
2018
-----------------------
Record Date (both UK and SA) Friday 19 October 2018
-----------------------
Last date for receipt of Tax Exemption Friday 19 October 2018
Declaration Forms to permit dividend
to be paid gross (UK Shareholders only)
-----------------------
Dividend payment date (UK & SA) Tuesday 20 November
2018
-----------------------
SA shareholders should note that, in accordance with the
requirements of Strate, the last day to trade cum-dividend will be
Tuesday 16 October 2018 and that no dematerialisation or
rematerialisation of shares will be possible from Wednesday 17
October to Friday 19 October 2018 inclusive. No transfers between
the UK and South African registers may take place from Tuesday 9
October to Friday 19 October 2018 (both days inclusive).
EXCHANGE RATE
(i) Shareholders receiving the dividend in cash:
The Company confirms that the South African Rand exchange rate
for the 2018 interim dividend will be 19.4968 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 89.68528 ZAR
cents
---------------- ----------------
Less 20% withholding tax*/20% GBP pence 0.92 17.93706 ZAR
SA dividends tax** cents
---------------- ----------------
Net PID dividend payable GBP pence 3.68 71.74822 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. 9
October 2018) 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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