An interim cash dividend per ordinary share (ISIN GB00B62G9D36) of 0.8 pence, was paid on Monday 19 September 2022 for shareholders who hold their shares on the South Africa register, and on Tuesday 20 September 2022 for shareholders who hold their shares on the UK register.
The change to the UK dividend payment date was as a result of the the UK bank holiday announced for Her Majesty Queen Elizabeth II’s State Funeral.
The following were the salient dates for the payment of the interim dividend:
- Tuesday, 2 August 2022 - Interim dividend announced
- Monday, 15 August 2022 - Sterling/Rand exchange rate struck
- Tuesday, 16 August 2022 - Sterling/Rand exchange rate and dividend amount in Rand announced
- Wednesday, 24 August 2022 - Ordinary shares listed ex-dividend on the JSE, Johannesburg
- Thursday, 25 August 2022 - Ordinary shares listed ex-dividend on the London Stock Exchange
- Friday, 26 August 2022 - Record date for 2022 interim dividend in London and Johannesburg
- Monday, 19 September 2022 - Dividend payment date for shareholders on the South Africa Register
- Tuesday, 20 September 2022 - Dividend payment date for shareholders on the UK register
South African shareholders should note that, in accordance with the requirements of Strate, the last day to trade cum-dividend was Tuesday 23 August 2022 and that no dematerialisation of shares was possible from Wednesday 24 August 2022 to Friday 26 August 2022 inclusive. No transfers between the UK and South Africa registers could take place from 24 August 2022 to 26 August 2022 inclusive.
The interim dividend was paid wholly as a PID. There was no non-PID element of the interim dividend. As such, the entire interim dividend will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply.
Information for shareholders
The information below is included only as a general guide to taxation for shareholders based on Capco's understanding of the law and the practice currently in force. Any shareholder who is in any doubt as to their tax position should seek independent professional advice.
UK shareholders - PIDs
Certain categories of shareholders may be eligible for exemption from the 20 per cent UK withholding tax and may register to receive their dividends on a gross basis. Further information, including the required forms, is available here, or on request from our UK registrars, Link Group, whose contact details are available here . Validly completed forms must be received by Link Group no later than the dividend Record Date, as advised; otherwise the dividend will be paid after deduction of tax
South African shareholders
The interim dividend declared by the Company is a foreign payment and the funds are sourced from the UK.
PIDs: South African shareholders may apply to HMRC after payment of the PID interim dividend for a refund of the difference between the 20 per cent UK withholding tax and the UK/South African double taxation treaty rate of 15 per cent.
The PID interim dividend will be exempt from income tax but will constitute a dividend for Dividends Tax purposes, as it will be declared in respect of a share listed on the exchange operated by the JSE. SA Dividends Tax will therefore be withheld from the PID interim dividend at a rate of 20 per cent, unless a shareholder qualifies for an exemption and the prescribed requirements for effecting the exemption are in place by the requisite date. Certain shareholders may also qualify for a reduction of SA Dividends Tax liability to 5 per cent, (being the difference between the SA dividends tax rate and the effective UK withholding tax rate of 15 per cent) if the prescribed requirements for effecting the reduction are in place by the requisite date.
Non-PID: There is no non-PID element of the interim dividend.
Other overseas shareholders:
Other non-UK shareholders may be able to make claims for a refund of UK withholding tax deducted pursuant to the application of a relevant double taxation convention. UK withholding tax refunds can only be claimed from HMRC, the UK tax authority.
Additional information on PIDs can be found here.
|Year||No.||Dividend||UK Pence||ZAR Cents||Record Date||Payment Date|
*The 2022 interim dividend will be paid wholly as a Property Income Distribution (“PID”). The 2021 final dividend and 2021 interim dividend were split equally between a PID and non-PID. No element of the 2019 Final dividend was a PID.
1 As a result of the UK bank holiday announced for Her Majesty Queen Elizabeth II's State Funeral, the payment date for the 2022 interim dividend is 19 September 2022 for shareholders who hold their shares on the South Africa register, and 20 September 2022 for shareholders who hold their shares on the UK register.
Dividends Paid Directly to your Bank Account
If you wish to have your dividends paid directly to your bank or building society, please complete a dividend payment mandate form which is available from the appropriate registrar.
Scrip Dividend Scheme
The Capital & Counties Properties PLC 2020 Scrip Dividend Scheme was approved by shareholders at the 2020 Annual General Meeting. Further information on the Scrip Dividend Scheme is contained in the 2020 Scrip Dividend Scheme Booklet, which can be downloaded below.
|Record date||Payment date|
|UK Pence||ZAR Cents||UK||SA|
|2018||18||Final||244.02||4,519.80410||1: 244.02||1: 245.69627||12/04/2019||16/05/2019|
*Or 1:352.2 where there is an exemption from UK withholding tax.
Previous documents relating to the Scrip Dividend Scheme
The 2017 Scrip Dividend Scheme, which was approved by shareholders at the 2017 Annual General Meeting, applied to scrip dividends from the 2017 interim dividend to the 2019 final dividend. The 2017 Scrip Dividend Scheme Booklet, plus additional older notices, can be downloaded below. Please note that references made within the Scrip Dividend Booklet to Capita Asset Services should now be read as Link Group.
Scrip Dividend Announcements
All past Scrip Dividend announcements for the Company can be accessed here.