SCRIP DIVIDEND REFERENCE PRICE

RNS Number : 6933L

Scottish & Southern Energy PLC

03 August 2011

 



SCOTTISH AND SOUTHERN ENERGY PLC

SCRIP DIVIDEND SCHEME

The Board of Scottish and Southern Energy plc ('the Company') confirms that the Scrip reference price for the fully paid ordinary shares to be issued to shareholders electing to receive the Scrip dividend alternative for the final dividend for the year ended 31 March 2011, payable on 23 September 2011, will be 1,308 pence per share.

The Scrip reference price has been calculated by taking the average mid-market closing price of the Company's shares over the five business days commencing on the ex-dividend date. In respect of the final dividend for the year ended 31 March 2011, this was the period 27 July to 2 August 2011.

If all of the Company's eligible shareholders as at the record date of 29 July 2011 were to elect to participate in the Scrip Dividend Scheme in respect of their entire shareholdings as at such date, based on the Scrip reference price of 1,308 pence per share, the maximum number of shares required to be issued by the Company, for Scrip dividend purposes, would be 37,678,850, representing approximately 4.02% of the Company's issued share capital on the record date.

The exact number of shares which will require to be issued will be established after 25 August 2011, the final date for receipt of elections to participate in the Scrip Dividend Scheme.  

Shareholders wishing to participate in the Scrip Dividend Scheme should contact Capita Registrars and return their mandate forms to Capita Registrars to arrive no later than 25 August 2011.  Shareholders wishing to withdraw from the Scrip Dividend Scheme should ensure their requests to withdraw are lodged with Capita Registrars to arrive no later than 25 August 2011.

Scrip dividend timetable for the final dividend for the year ended 31 March 2011

Ex-dividend date                                                    27 July 2011

Record date                                                           29 July 2011

Scrip reference price calculation period             27 July - 2 August 2011

Last date for receipt of Scrip elections               25 August 2011

Dividend payment/Scrip issue date                    23 September 2011

 

END

 

 

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