1Q 2012 interim dividend allotments for scrip

RNS Number : 1628G

BP PLC

27 June 2012

 



27 June 2012

BP p.l.c.

First quarter interim dividend for 2012

Allotments for Scrip Dividend Programme

Ordinary shares

BP p.l.c. confirms the allotment and issue of 11,132,572 ordinary shares of US$0.25 each ('shares') to shareholders who elected to receive ordinary shares under the Scrip Dividend Programme as an alternative for the first quarter interim dividend for 2012, payable on 27 June 2012. This allotment and issue includes the election made by the Depositary, JPMorgan Chase Bank in order to issue ADSs to ADS holders who elected to receive ADSs under the Scrip Dividend Programme, as outlined below. The shares rank pari passu with the existing issued ordinary shares of the Company.

Following the issue of the above shares, the number of ordinary shares in issue will be 20,866,124,427 of which 1,832,599,986 are held as treasury shares leaving a balance of 19,033,524,441 ordinary shares with voting rights.

Application has been made to the Financial Services Authority for the shares to be admitted to the Official List and to the London Stock Exchange for the shares to be admitted to trading. Dealings in the shares are expected to commence on 27 June 2012.

American Depositary Shares ('ADSs')

In accordance with the terms of the Scrip Dividend Programme for ADS holders and the Deposit Agreement between BP p.l.c. and the Depositary, JPMorgan Chase Bank, 802,027.31 ADSs (each representing 6 ordinary shares) are to be issued to ADS holders who elected to receive ADSs under the Scrip Dividend Programme. This number reflects an adjustment for the fee payable to the Depositary under the Deposit Agreement ($0.05 per ADS). Previously, this number would also reflect a deduction of UK stamp duty reserve tax ('SDRT') of 1.5%, but following a recent tax tribunal decision, 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. Application has been made to the New York Stock Exchange for the listing of the ADSs on the New York Stock Exchange. Dealings in the ADSs are expected to commence on 27 June 2012.

Details of the first quarter dividend are available at www.bp.com/dividends and details of the Scrip Dividend Programme are available at www.bp.com/scrip.

Jens Bertelsen

Deputy Company Secretary

 

END

 

 

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