Scrip dividend circulars and dividend taxes

RNS Number : 3510J

Capital & Counties Properties Plc

20 August 2021

 

20 August 2021

CAPITAL & COUNTIES PROPERTIES PLC (the "Company")

SCRIP DIVIDEND CIRCULARS

Capital & Counties Properties PLC has today published scrip dividend circulars for those shareholders holding their shares on the UK share register, and those shareholders holding their shares on the South African share register. 

The circulars explain the terms of the scrip dividend alternative being offered in respect of the 2021 interim dividend, and how shareholders may elect to receive the scrip dividend alternative. Shareholders may elect to receive the scrip dividend alternative in respect of the whole of the cash dividend they would otherwise receive. It is not possible to elect to receive the scrip dividend alternative in respect of part of a shareholder's shareholding, or solely the PID or non-PID element of the 2021 interim dividend.

Copies of the circulars have been submitted to the National Storage Mechanism and will shortly be available for inspection at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism  

The circulars may also be viewed on the Company's website at:

http://www.capitalandcounties.com/

PID, NON-PID and WITHHOLDING TAXES

The 2021 interim dividend of 0.5 pence per ordinary share will be split equally between a PID and non-PID. The PID element will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply. The non-PID element will be treated as an ordinary UK company dividend. SA dividends tax will also apply, where applicable. Details of the split (per ordinary share), and withholding taxes are set out below:

	UK (p)	SA (ZAR cents)
Total (gross)	0.50	10.21395
PID (gross)	0.25	5.10698
UK withholding tax (20%)	0.05	1.02140
PID (net of UK withholding tax)	0.20	4.08558
Less effective 5% SA dividends tax for SA shareholders, where applicable*	-	0.25535
Net PID payable	0.20	3.83023
Non-PID	0.25	5.10698
Less SA withholding tax (20%)	-	1.02140
Net Non-PID payable	0.25	4.08558

* where the 20% SA dividends tax rate applies, this will be 1.02140 ZAR cents per ordinary share, and after UK withholding tax and SA Dividends Tax have been withheld, the net interim dividend will be 7.14977 ZAR cents per ordinary share (Note this figure is a correction to the figure of 7.35404 ZAR cents included in the announcement dated 17 August 2021).

Additional information relating to the 2021 interim dividend (including application of SA dividends tax) is set out in the Company's interim results published on 27 July 2021 and the announcement regarding the exchange rate and scrip calculation prices published on 17 August 2021.

The information in these announcements 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.

Enquiries:

Ruth Pavey

Company Secretary

Capital & Counties Properties PLC 

Tel: + 44 (0) 20 3214 9170

 

END

 

 

CIRURUARASUWUAR