Dividends

2017 Final Dividend

An Final  Dividend for 2017 of 9.4 pence per share (the "Dividend") is due to be paid on 17 May 2018 . A scrip dividend alternative will not be be offered.

The Final Dividend will be paid partly as a Property Income Distribution (“PID”) with a gross value of 8.0 pence per share, which will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply, and partly as a normal dividend (“Non-PID”) with a value of 1.4 pence per share.

The following were the salient dates for the payment of the Dividend: 

Confirmation and timetable of scrip alternative announced Tuesday 10 April 2018
   
Currency Conversion Date (Sterling/Rand) Monday 9 April 2018
Ex-dividend date (SA) Wednesday 18 April 2018
Ex-dividend date (UK) Thursday 19 April 2018
Record Date (both UK and SA) Friday 20 April 2018
Last date for receipt of Tax Exemption Declaration Forms to permit dividend to be paid gross (UK Shareholders only) Friday 20 April 2018
   
   
Dividend payment date (UK & SA) Thursday 17 May 2018
   
   

South African shareholders should note that, in accordance with the requirements of strate, the last day to trade cum-dividend will be Tuesday, 17 April 2018 and that no dematerialisation or rematerialisation of shares was possible from Wednesday 18 April to Friday 20 April 2018 inclusive.  No transfers between the UK and South African registers will take place from Tuesday 10 April to Friday 20 April 2018 inclusive.

PIDs

 

A 20 per cent UK withholding tax will be deducted from PIDs. The Company will account to Her Majesty’s Revenue & Customs (“HMRC”) in sterling for the total UK withholding tax deducted. SA dividends tax, at the rate of 20 per cent will apply to cash PIDs 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 South Africa, the maximum tax payable in the UK is 15 per cent. Therefore on application by South African resident shareholders, 5 per cent of the PID (i.e. one quarter of the 20 per cent UK withholding tax deducted from a PID) is claimable from HMRC, resulting in an effective UK withholding tax rate of 15 per cent.  Settlement of any claims for refund will be calculated and settled in sterling by HMRC. As UK withholding tax will be applicable at an effective rate of 15 per cent, the SA dividends tax liability will be reduced to 5 per cent.  In such cases the overall tax deducted will therefore be 20 per cent (15 per cent in the UK and 5 per cent in South Africa).

 

The information given in section (i) above will assist with applications for refunds. For information on PIDs and refund claims, including claim forms and guidance on how to complete them, visit intugroup.co.uk/en/investors/shareholder-information/real-estate-investment-trust/.

 

Non-PIDs

 

SA dividends tax at the rate of 20% will apply to cash Non-PIDs paid 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).  Since no withholding tax is suffered in the UK on Non-PIDs, no rebate can be claimed.  The relevant regulated intermediary (being the SA transfer secretaries or other CSDP, broker or institution, as applicable) will therefore be required to deduct 20% tax on all cash Non-PID's paid to persons who are not exempt from SA dividends tax, and pay this to the South African Revenue Service.

 

The number of shares in issue as at the declaration date (i.e. 10 April 2018) is 1,355,040,243 ordinary shares of 50p each.

 

The above information and the guidelines on the taxation of dividends are provided as a general guide based on the Company’s understanding of the law and practice currently in force.  Any shareholder who is in any doubt as to their tax position should seek independent professional advice.

 

 

2017 Interim Dividend

An Interim Dividend for 2017 of 4.6 pence per share (the "Dividend") is due to be paid on 21 November 2017 . A scrip dividend alternative was not offered to shareholders.

The following were the salient dates for the payment of the interim dividend: 

Confirmation and timetable of scrip alternative announced 10 October 2017
   
Currency Conversion Date (Sterling/Rand) Monday 9 October 2017
Ex-dividend date (SA) Wednesday 18 October 2017
Ex-dividend date (UK) Thursday 19 October 2017
Record Date (both UK and SA) Friday 20 October 2017
Last date for receipt of Tax Exemption Declaration Forms to permit dividend to be paid gross (UK Shareholders only) Friday 20 October 2017
   
   
Dividend payment date (UK & SA) Tuesday 21November 2017
   
   

South African shareholders should note that, in accordance with the requirements of strate, the last day to trade cum-dividend will be Tuesday, 17 October 2017 and that no dematerialisation or rematerialisation of shares was possible from Wednesday 18 October to Friday 20 October 2017 inclusive.  No transfers between the UK and South African registers will take place from Tuesday 10 October to Friday 20 October 2017 inclusive.

PID SPECIAL NOTE:

UK shareholders:

For those who are eligible for exemption from the 20 per cent withholding tax and have not previously registered for exemption, an HM Revenue & Customs (“HMRC”) Tax Exemption Declaration is available for download from the “Investors” section of this website, or on request to our UK registrars, Capita Asset Services.  Validly completed forms must have been received by Capita Asset Services no later than the Record Date, Friday 20 October 2017; otherwise the dividend would be paid after deduction of tax.

South African and other non-UK shareholders:

A 20 per cent UK withholding tax will be deducted from the cash PID. The Company will account to Her Majesty’s Revenue & Customs (“HMRC”) in sterling for the total UK withholding tax deducted. SA dividends tax, at the rate of 20 per cent will apply to the cash PIDs payable by the Company unless the beneficial owner of the dividend is exempt from SA dividends tax.

Under the double tax agreement between the UK and South Africa, the maximum tax payable in the UK is 15 per cent. Therefore on application by South African shareholders, 5 per cent of the PID (i.e. one quarter of the 20 per cent UK withholding tax deducted from a PID) is claimable from HMRC, resulting in an effective UK withholding tax rate of 15 per cent.  Settlement of any claims for refund will be calculated and settled in sterling by HMRC. As UK withholding tax will be applicable at an effective rate of 15 per cent, the SA dividends tax liability will be reduced to 5 per cent.  In such cases the overall tax deducted will therefore be 20 per cent (15 per cent in the UK and 5 per cent in South Africa).

The information given in section (i) above will assist with applications for refunds. For information on PIDs and refund claims, including claim forms and guidance on how to complete them, visit intugroup.co.uk/en/investors/shareholder-information/real-estate-investment-trust/.

The number of shares in issue as at the declaration date (i.e. 10 October 2017) is 1,355,040,243 ordinary shares of 50p each.

The above information, and the guidelines on the taxation of dividends, including when taken as scrip shares, contained in the Scrip Dividend Scheme Booklet, is provided as a general guide based on the Company’s understanding of the law and practice currently in force.  Any shareholder who is in any doubt as to their tax position should seek independent professional advice.

The 2017 Interim Dividend was paid wholly as a Property Income Distribution (‘PID’), which will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply.

2016 Final Dividend

On 23 February 2017, the Directors proposed a final dividend for 2016 of 9.4 pence per share (the “Dividend”). The Dividend will be paid on 25 May 2017, following approval of the shareholders at the Company’s AGM held on 3 May 2017.

A scrip dividend alternative was not offered on this occasion and all shareholders therefore received the full 2016 Final Dividend payable in cash. The 2016 Final Dividend was also paid wholly as a Property Income Distribution (‘PID’), which will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply.

A timetable of events in relation to the Final Dividend is set out below:

Currency Conversion Date (sterling/rand) Thursday 6 April 2017
Sterling/Rand conversion rate and dividend amount in SA currency announced Friday 7 April 2017
Ex-dividend date (SA) Wednesday 19 April 2017
Ex-dividend date (UK) Thursday 20 April 2017
Record Date (both UK and SA) Friday 21 April 2017
Dividend payment date (UK & SA) Thursday 25 May 2017

                                                                            

South African shareholders should note that, in accordance with the requirements of Strate, the last day to trade cum-dividend will be Tuesday 18 April 2017 and that no dematerialisation or rematerialisation of shares will be possible from Wednesday 19 April 2017 to Friday 21 April 2017 inclusive. No transfers between the UK and South African registers may take place from Friday 7 April 2017 to Friday 21 April 2017 inclusive.

The 2016 Final Dividend was paid wholly as a Property Income Distribution (‘PID’), which will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply.

2016 Interim Dividend

An Interim Dividend for 2016 of 4.6 pence per share (the "Dividend") was paid on 22 November 2016. A scrip dividend alternative was offered to shareholders.

The following were the salient dates for the payment of the interim dividend: 

Confirmation and timetable of scrip alternative announced Tuesday 11 October 2016
Scrip price calculation period – average of five dealing dates on each exchange 4 October – 10 October 2016 inclusive
Currency Conversion Date (Sterling/Rand) Monday 10 October 2016
Ex-dividend date (SA) Wednesday 19 October 2016
Ex-dividend date (UK) Thursday 20 October 2016
Record Date (both UK and SA) Friday 21 October 2016
Last date for receipt of Tax Exemption Declaration Forms to permit dividend to be paid gross (UK Shareholders only) Friday 21 October 2016
*Election Date for scrip alternative (SA) (by noon) Friday 21 October 2016
*Election Date for scrip alternative (UK)(by close of business) Friday 28 October 2016
Dividend payment date (UK & SA) Tuesday 22 November 2016
CREST (UK register) and CSDP (SA register) accounts credited and share certificates issued to certificated shareholders Tuesday 22 November 2016
First day of dealings and admission to the official list of the UK Listing Authority and the JSE for New Ordinary Shares under the Scheme Tuesday 22 November 2016

South African shareholders should note that, in accordance with the requirements of strate, the last day to trade cum-dividend will be Tuesday, 18 October 2016 and that no dematerialisation or rematerialisation of shares was possible from Wednesday 19 October to Friday 21 October 2016 inclusive.  No transfers between the UK and South African registers will take place from Tuesday 11 October to Friday 21 October 2016 inclusive.

PID SPECIAL NOTE:

UK shareholders:

For those who are eligible for exemption from the 20 per cent withholding tax and have not previously registered for exemption, an HM Revenue & Customs (“HMRC”) Tax Exemption Declaration is available for download from the “Investors” section of this website, or on request to our UK registrars, Capita Asset Services.  Validly completed forms must have been received by Capita Asset Services no later than the Record Date, Friday 21 October 2016; otherwise the dividend would be paid after deduction of tax.

South African and other non-UK shareholders:

South African shareholders may apply to HMRC after payment of the dividend for a refund of the difference between the 20 per cent withholding tax and the UK/South African double taxation treaty rate of 15 per cent.  Other non-UK shareholders may be able to make similar claims for a refund of UK withholding tax deducted. Refund application forms for all non-UK shareholders are available for download from the “Investors” section of this website, or on request to our South African registrars, Trifecta Capital Services, or HMRC.  UK withholding tax refunds are not claimable from intu properties plc, the South African Revenue Service (“SARS”) or other national authorities, only from the UK’s HMRC.

The 2016 Interim Dividend was paid wholly as a Property Income Distribution (‘PID’), which will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply.

2015 Final Dividend

On 26 February 2016, the Directors proposed a final dividend for 2015 of 9.1 pence per share (the “Dividend”). The Dividend was paid on 26 May 2016, following approval of the shareholders at the Company’s AGM held on 4 May 2016.

A scrip dividend alternative was not offered on this occasion and all shareholders therefore received the full 2015 Final Dividend payable in cash. The 2015 Final Dividend was also paid wholly as a Property Income Distribution (‘PID’), which will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply.

A timetable of events in relation to the Final Dividend is set out below:

Currency Conversion Date (sterling/rand) Tuesday 29 March 2016
Sterling/Rand conversion rate and dividend amount in SA currency announced Wednesday 30 March 2016
Ex-dividend date (SA) Monday 11 April 2016
Ex-dividend date (UK) Thursday 14 April 2016
Record Date (both UK and SA) Friday 15 April 2016
Last date for receipt of Tax Exemption Declaration Forms to permit dividend to be paid gross (UK Shareholders only) Friday 15 April 2016
Dividend payment date (UK & SA) Thursday 26 May 2016
CREST (UK register) and CSDP (SA register) accounts credited and share certificates issued to certificated shareholders Thursday 26 May 2016

South African shareholders should note that, in accordance with the requirements of strate, the last day to trade cum-dividend was 8 April 2016 and that no dematerialisation or rematerialisation of shares will be possible from 11 April to 15 April 2016 inclusive. No transfers between the UK and South African registers could take place from 24 March to 18 April 2016 (both days inclusive).

PID SPECIAL NOTE:

UK shareholders:

For those who are eligible for exemption from the 20 per cent withholding tax and have not previously registered for exemption, an HM Revenue & Customs (“HMRC”) Tax Exemption Declaration is available for download from the “Investors” section of this website, or on request to our UK registrars, Capita Asset Services.  Validly completed forms must have been received by Capita Asset Services no later than the Record Date, Friday 15 April 2016; otherwise the dividend would be paid after deduction of tax.

South African and other non-UK shareholders:

South African shareholders may apply to HMRC after payment of the dividend for a refund of the difference between the 20 per cent withholding tax and the UK/South African double taxation treaty rate of 15 per cent.  Other non-UK shareholders may be able to make similar claims for a refund of UK withholding tax deducted. Refund application forms for all non-UK shareholders are available for download from the “Investors” section of this website, or on request to our South African registrars, Computershare, or HMRC.  UK withholding tax refunds are not claimable from intu properties plc, the South African Revenue Service (“SARS”) or other national authorities, only from the UK’s HMRC.

Dividend history

 

No.

Dividend

Amount

Recorded

Payment

 

 

 

 

 

 

 

 

 

UK pence Cash

UK pence Scrip

ZAR cents Scrip

ZAR cents Scrip

US cents1

 

 

2015

33

Final (PID)

9.12

-

199.84512

-

-

15/04/2016

26/05/2016

2015

32

Interim (PID)

4.62

4.62

95.29592

95.29592

-

23/10/2015

24/11/2015

 

 

2015 total

13.7

 

295.1412

 

 

 

 

2014

31

Final Cash Dividend (PID element)

9.12

-

163.99112

-

-

17/04/2015

28/05/2015

 

 

Final (ordinary element)

-

9.1

-

163.9911

-

 

 

2014

30

Interim (PID element)

4.62

2.32

81.93522

40.96762

-

24/10/2014

25/11/2014

 

 

Interim (ordinary element)

-

2.3

-

40.9676

-

 

 

 

 

2014 total

13.7

 

245.92632

 

-

 

 

2013

29

Final Cash Dividend (PID element)

7.52

-

130.76252

-

-

17/04/2014

20/05/2014

 

 

Final Cash Dividend (ordinary element)

2.5

10.0

43.5875

174.3500

-

 

 

2013

28

Interim (PID)

5.02

5.02

81.49002

81.49002

-

18/10/2013

19/11/2013

 

 

2013 total

15.0

 

255.84002

 

-

 

 

2012

27

Final Cash Dividend2 (PID element)

10.02

8.52

137.18002

116.60002

-

26/04/2013

04/06/2013

 

 

Final (ordinary element)

-

1.5

-

20.5800

-

 

 

2012

26

Interim (PID)

5.02

-

68.85002

68.85002

-

19/10/2012

20/11/2012

 

 

2012 total

15.0

 

206.03002

 

-

 

 

2011

25

Final (ordinary element)

7.5

-

99.0923

-

-

01/06/2012

03/07/2012

 

 

Final (PID element)

2.52

-

33.03082

-

-

 

 

2011

24

Interim (PID)

5.02

-

61.6552

-

-

14/10/2011

22/11/2011

 

 

2011 total

15.0

 

193.7781

 

-

 

 

2010

23

Final (ordinary element)

5.0

-

55.965

-

-

03/06/2011

21/06/2011

 

 

Final (PID element)

5.02

-

55.9652

-

-

 

 

2010

22

Interim (PID)

5.02

-

54.752

-

5.62

08/10/2010

03/11/2010

 

 

2010 total

15.0

 

166.68

 

5.6

 

 

2009

21

Final (ordinary element)

3.0

-

34.4130

-

3.79

25/05/2010

09/06/2010

 

 

Final (PID element)

8.52

-

97.50352

-

10.732

 

 

2009

20

Interim (PID)

5.02

-

60.7902

-

7.162

02/10/2009

27/10/2009

 

 

2009 total

16.5

 

192.7065

 

21.68

 

 

2008

19

Interim (PID)

16.503

-

240.48752

-

27.052

29/08/2008

16/09/2008

 

 

2008 total

16.5

 

240.4875

 

27.05

 

 

2007

18

Final (ordinary)

17.6

-

269.4736

-

32.86

09/05/2008

28/05/2008

2007

17

   

 

 

 

34.1

 

507.8986

 

63.53