"it looks as though they are resuming Scrips as dividends if you hold through their service"
To confirm, it's not dependent on holding shares through the Santander service. They will issue divis as cash or scrips as they wish and decent brokers will handle scrips. Current policy is 4 divis a year, one being a scrip.
I found this on their web site and it looks as though they are resuming Scrips as dividends if you hold through their service
Santander Scrip Dividend Scheme The following information is relevant to those shareholders who hold their shares through the Santander Nominee Service.
Santander will implement a scrip dividend scheme again in November 2015 when the first interim dividend is traditionally paid. Shareholders will once again have the opportunity to choose whether to receive cash or new shares.
My shares are held with hsbc invest direct and they allow me to swop between taking the cash, [not a good idea as the divi suffers a 20% spanish withholding tax] or taking the scrip shares, which this time is 1 share for every 103 held. You would, if you wanted the cash, be better off taking the shares and then selling them yourself depending on the brokers commision and the number of shares you receive. That one you will have to work out for yourself. Finally, there is only one scip divi each financial year and this ones it!!
Unless any things altered recently - and I haven't checked for a while - then they issue four divis a year and one of them will have the option of being a scrip divi. If you want the new shares via the scrip then your Broker will need to be able to offer processing of scrips and you will need to tell them in advance that you want scrips when they are offered ongoing. Not all brokers offer this service but first direct and Barclays share dealing definitely do. You don't need to have a Santander account to get them.
I'm hoping they change their divi policy back to allowing all divis as new shares.
Anyone have a list of non-UK registered companies that offer all their divis as scrips and that operate a ‘scrip dividend programme’ (where it means by having the scrip you don’t pay the local (foreign) tax) ?
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