SCRIP ALTERNATIVE

RNS Number : 0803N

SSE PLC

03 August 2017

 

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 ending 31 March 2017, payable on 22 September 2017, will be 1,381 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 ending 31 March 2017, this was the period 27 July to 2 August 2017.

If all of the Company's eligible shareholders as at the record date of 28 July 2017 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 1,381 pence per share, the maximum number of shares required to be issued by the Company, for Scrip dividend purposes, would be 46,233,164 representing approximately 4.63% 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 2017, the final date for receipt of elections to participate in the Scrip Dividend Scheme.  

Shareholders wishing to participate in the Scrip Dividend Scheme should refer to the SSE Scrip Terms and Conditions which are available online at www.sse.com. Scrip elections must be submitted by no later than 4.30pm on 25 August 2017.  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 4.30pm on 25 August 2017.

Shareholders who hold their shares in uncertificated form should consult their Crest sponsors as appropriate.

Scrip dividend timetable for the final dividend for the year ending 31 March 2017

Ex-dividend date                                                    27 July 2017

Record date                                                           28 July 2017

Scrip reference price calculation period              27 July - 2 August 2017

Last date for receipt of Scrip elections               25 August 2017

Dividend payment/Scrip issue date                    22 September 2017

 

END

 

 

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