Amount per ADR ($)
9 November 2023
22 November 2023
24 November 2023
11 January 2024
Scrip dividend alternative
Scrip reference price (USD)
Scrip election date for ADRs
30 November 2023
5 December 2023 (12pm New York time)
The scrip dividend reference price is calculated as the average closing mid-market price of an ordinary share for the five dealing days commencing with, and including, the ex-dividend date. For ADR holders this is calculated by multiplying the reference share price for ordinary shares by five (as there are five ordinary shares underlying each ADR) and by the average US$ rate for the equivalent dealing days.
The Company has amended the deposit agreement under which the American Depositary Shares (ADR)s representing its ordinary shares are issued to allow a fee of up to $0.05 per ADR to be charged for any cash distribution made to ADR holders, including cash dividends, in line with common market practice in order to cover costs associated with the management of the ADR programme.
ADR holders who receive a cash dividend will be charged a fee, which will be deducted by the Depositary from interim and final cash dividends prior to distribution of the cash dividend.
Previously, the ADR scrip reference price included a deduction of 1.5% SDRT but following a tax tribunal decision in 2012, HM Revenue & Customs no longer seek to impose 1.5% SDRT on issues of UK shares and securities to non-EU clearance services and depositary receipt systems. Any ADR holders who wish to seek a refund of SDRT that they have paid previously should speak to their tax advisor.
If you have an queries regarding your ADRs please contact The Bank of New York Mellon.