SCRIP DIVIDEND REFERENCE PRICE

RNS Number : 0647J

SSE PLC

01 August 2012

 



SSE PLC

SCRIP DIVIDEND SCHEME

The Board of SSE 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 2012, payable on 21 September 2012, will be 1,307 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 2012, this was the period 25 July to 31 July 2012 inclusive.

If all of the Company's eligible shareholders as at the record date of 27 July 2012 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 1,307 pence per share, the maximum number of shares required to be issued by the Company, for Scrip dividend purposes, would be 40,550,014, representing approximately 4.29% 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 24 August 2012, 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 24 August 2012.  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 24 August 2012.

Scrip dividend timetable for the final dividend for the year ended 31 March 2012

Ex-dividend date                                                   25 July 2012

Record date                                                           27 July 2012

Scrip reference price calculation period            25 - 31 July 2012

Last date for receipt of Scrip elections               24 August 2012

Dividend payment/Scrip issue date                    21 September 2012

 

END

 

 

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