SSE PLC SCRIP DIVIDEND SCHEME

RNS Number : 7588N

SSE PLC

30 July 2014

 



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 2014, payable on 19  September 2014, will be 1,477 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 2014, this was the period 23 July to 29 July 2014 inclusive.

If all of the Company's eligible shareholders as at the record date of 25 July 2014 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 1,477 pence per share, the maximum number of shares required to be issued by the Company, for Scrip dividend purposes, would be 40,069,492, representing approximately 4.11% 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 22 August 2014, 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 22  August 2014.  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 22 August 2014.

Scrip dividend timetable for the final dividend for the year ended 31 March 2014

Ex-dividend date                                                    23 July 2014

Record date                                                           25 July 2014

Scrip reference price calculation period              23 July - 29 July 2014

Last date for receipt of Scrip elections               22 August 2014  

Dividend payment/Scrip issue date                    19 September 2014

 

END

 

 

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