Dividend Declaration

RNS Number : 4812B

British American Tobacco PLC

17 April 2012

 



British American Tobacco p.l.c.

Incorporated in England and Wales

(Registration number: 03407696)

Short name: BATS

Share code: BTI

ISIN number: GB0002875804

("British American Tobacco p.l.c." or "the Company")  

BRITISH AMERICAN TOBACCO p.l.c.

Final dividend for the year ended 31 December 2011: impact of change in South African tax legislation on dividend payable on 3 May 2012 to shareholders on the South African branch register on 9 March 2012

British American Tobacco p.l.c. notes that, since the announcement of a recommended final dividend on 23 February 2012, the new Dividend Tax has been introduced in South Africa and the JSE Listing Requirements were amended with effect from 1 April 2012 to require the disclosure of additional information in relation to the dividend payment. The purpose of this announcement is to provide that additional information.

Dividend Tax will be withheld from the amount of the gross final dividend of 1,078.44464 SA cents per ordinary share paid to shareholders on the South African branch register at the rate of 15 per cent unless a shareholder qualifies for an exemption. After Dividend Tax has been withheld, the net dividend will be 916.67794 SA cents per ordinary share.

The Company had a total of 1,967,367,157 ordinary shares in issue (excluding treasury shares) at the dividend record date of 9 March 2012.

The final dividend is subject to approval by shareholders at the Company's Annual General Meeting to be held in London on 26 April 2012. Assuming such approval by shareholders, the final dividend will be paid by the Company to shareholders on the main register and the South African branch register on 3 May 2012. With specific reference to South Africa, the Company, as a non-resident, was not subject to the secondary tax on companies (STC) regime which used to be applicable and therefore no STC credits are available for set-off against the Dividend Tax liability on the final dividend.

For the avoidance of doubt, Dividend Tax and therefore the information provided in this announcement is of only direct application to shareholders on the South African branch register.

Shareholders on the South African branch register should direct any questions regarding the application of the Dividend Tax to:

Computershare Investor Services (Pty) Ltd

PO Box 61051, Marshalltown 2107, South Africa

tel: [phone]

email enquiries: [e-mail]

G C W Cunnington

Deputy Secretary

17 April 2012

Investor Relations:

Mike Nightingale 020 7845 1206

Rachael Brierley 020 7845 1519

Maya Farhat  0207 845 1977

Press Office: Kate Matrunola/Jem Maidment 020 7845 2888

Sponsor: UBS South Africa (Pty) Ltd

 

END

 

 

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