Last checked at 27 Jul 2023 07:01
Hammerson plc (the "Company")
Dividend Declaration
27 July 2023
The Board of Directors of the Company has declared an interim dividend of 0.72 pence per ordinary share ("Share") for the period ended 31 December 2023 (the "Interim 2023 Dividend"). The interim dividend is payable on Monday, 2 October 2023 to shareholders on the register at the close of business on Friday, 25 August 2023.
The Interim 2023 Dividend will be paid as a Property Income Distribution ("PID"), net of withholding tax where appropriate.
The Company will not be offering a scrip dividend alternative but, for shareholders who wish to receive their dividend in the form of Shares, the Dividend Reinvestment Plan ("DRIP") will be available. The terms and conditions of the DRIP can be found at www.signalshares.com.
The timetable for the payment of the Interim 2023 Dividend is set out below.
Expected Timetable of Events
2023 | |
1. Currency conversion date | Friday, 11 August |
2. Currency conversion announcement released by 9.00 a.m. (UK Time) / 11.00 a.m. (SA time) | Monday, 14 August |
3. Last day to effect removal of shares between the United Kingdom ("UK") and South African ("SA") Registers | Tuesday, 22 August |
4. Last day to trade on the JSE to qualify for the dividend | Tuesday, 22 August |
5. Shares become "ex-dividend" on the JSE at the commencement of trading | Wednesday, 23 August |
6. Last day to trade on the LSE and on Euronext Dublin to qualify for the dividend | Wednesday, 23 August |
7. Shares become "ex-dividend" on the LSE and on Euronext Dublin at the commencement of trading | Thursday, 24 August |
8. Record date (applicable to both the UK principal register and the SA branch register) | Friday, 25 August |
9. Date on which removal of shares between the UK and SA registers becomes permissible | Monday, 28 August |
10. Last day for receipt of DRIP mandates by Central Securities Depository Participants (CSDPs) and SA Transfer Secretaries | Thursday, 7 September |
11. Last day for receipt of DRIP elections by UK Registrars | Monday, 11 September |
12. Dividend Payment Date (UK, ROI and SA) | Monday, 2 October |
13. DRIP purchases settlement date UK and ROI (subject to market conditions and the purchase of shares in the open market) | Wednesday, 4 October |
14. DRIP purchases settlement date SA (subject to market conditions and the purchase of shares in the open market) | Monday, 16 October |
Notes:
1. The removal of shares to and from the UK principal register and the SA branch register will not be permitted between Wednesday, 23 August 2023 to Friday, 25 August 2023, both dates inclusive.
2. Shareholders registered on the SA branch register should note that, in accordance with the requirements of Strate, no dematerialisation or rematerialisation of shares will be possible from Wednesday, 23 August 2023 to Friday, 25 August 2023, both dates inclusive.
3. The interim dividend should be regarded as a 'foreign dividend' for SA income tax and dividends tax purposes.
4. Shareholders registered on the SA branch register will be paid in SA Rand.
5. SA dividends tax, at the rate of 20% will apply to cash PIDs and dividends payable by the Company unless the beneficial owner of the dividend is exempt from SA dividends tax (e.g. if it is a South African resident company). Under the double tax agreement between the UK and SA ("the DTA"), the maximum tax payable in the UK is 15%. South African resident shareholders are therefore entitled to claim the excess of 5% from HM Revenue and Customs ("HMRC"). As SA shareholders are entitled to reclaim this excess from HMRC, the maximum rebate allowable in respect of the UK withholding tax against the SA dividends tax is 15%, which means that the Company will have to withhold a further 5% from the dividend in South Africa to bring the total dividends tax to 20%. In summary, therefore, 20% will be withheld in the UK, a further 5% will be withheld in SA (where appropriate), but South African resident shareholders will be entitled to claim back 5% from HMRC, which will bring the overall total to 20%.
6. Those shareholders who hold their shares on the UK principal register and already participate in the DRIP need not complete a DRIP mandate form for each dividend as such forms provide an ongoing authority to participate in the DRIP until cancelled in writing or online at www.signalshares.com. If you are unsure whether you have submitted a DRIP election you can check your account online at: www.signalshares.com. Alternatively, you can contact the UK Registrar, Link Group, by email at shares@linkgroup.co.uk or by phone on 0371 664 0381 or +44 (0) 371 664 0381 from overseas. Calls are charged at the standard geographic rate and will vary by provider. Calls from outside the UK will be charged at the applicable international rate. Lines are open between 9:00 am and 5:30 pm, Monday to Friday excluding public holidays in England and Wales.
7. Shareholders on the UK principal register who wish to participate in the DRIP should complete an application form online at: www.signalshares.com.
8. Shareholders registered on the SA branch register who hold their shares through the Strate system and who wish to participate in the DRIP should contact their CSDP.
9. As at Thursday, 27 July 2023, being the declaration date of the Interim 2023 Dividend, the Company had a total of 5,002,265,607 ordinary shares in issue, with 7,691,247 of those ordinary shares held in Treasury.
10. The dates above are subject to change. Any changes made will be communicated as soon as practicably possible.
11. The Board retains the discretion to withdraw or modify the terms of the Interim 2023 Dividend at any time, because there are certain situations in which the Board may decide that it is no longer appropriate to pay the Interim 2023 Dividend, or it may not be permissible for the Company to do so.
For further information contact:
Richard Crowle
Senior Assistant Company Secretary
Tel: +44 (0)20 7887 1000
The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange and on Euronext Dublin.