Intu Properties Plc Dividend Declaration

 
TIDMINTU 
 
INTU PROPERTIES PLC (the "Company") 
 
LEI: 213800JSNTERD5CJZO95 
 
7 April 2017 
 
CONFIRMATION OF DIVIDEND TIMETABLE FOR THE CASH 2016 FINAL DIVIDEND, EXCHANGE 
RATE AND NOTIFICATION THAT SCRIP DIVIDEND ALTERNATIVE WILL NOT BE OFFERED 
 
On 23 February 2017, the Directors proposed a final dividend for 2016 of 9.4 
pence per share (the "dividend"). The dividend will be wholly paid as a 
Property Income Distribution ("PID") which will be subject to deduction of a 20 
per cent UK withholding tax unless exemptions apply. Today we are announcing 
the dividend payment date, 25 May 2017. 
 
A scrip dividend alternative will not be offered on this occasion and all 
shareholders will therefore receive the dividend in cash. 
 
For further information regarding their holdings, or the final dividend, we 
recommend that shareholders contact our registrars in the UK or South Africa as 
follows:- 
 
UK Shareholders: 
 
Capita Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU 
(Tel: [phone]). Calls are charged at the standard geographic rate 
and will vary by provider. Calls outside the United Kingdom will be charged at 
the applicable international rate. Lines are open between 9.00am - 5.30pm, 
Monday to Friday excluding public holidays in England and Wales. 
 
SA Shareholders: 
 
Terbium Financial Services (Pty) Ltd, 31 Beacon Road, Florida-North, 
Johannesburg, 1709, South Africa (postal address: PO Box 61272, Marshalltown, 
2107, South Africa) (Tel: [phone]). 
 
or by download from 
 
intugroup.co.uk/en/investors/shareholder-information/dividends/ 
 
DIVIDEND TIMETABLE 
 
A timetable of events in relation to the dividend is set out below. 
 
Currency Conversion Date (Sterling/Rand)           Thursday 6 April 2017 
 
Finalisation Date                                    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 
 
Last date for receipt of Tax Exemption              Friday 21 April 2017 
Declaration Forms to permit dividend to be 
paid gross (UK Shareholders only) 
 
Dividend payment date (UK & SA)                     Thursday 25 May 2017 
 
SA 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 to Friday 21 April 2017 inclusive. No transfers between the 
UK and South African registers may take place from Friday 7 April to Friday 21 
April 2017 (both days inclusive). 
 
EXCHANGE RATE AND SCRIP CALCULATION PRICES 
 
(i) Shareholders receiving the dividend in cash: 
 
The Company confirms that the South African Rand exchange rate for the 2016 
final dividend will be 17.35450 ZAR to 1 GBP. Shareholders will receive a cash 
dividend per ordinary share which will be paid wholly as a PID as follows: 
 
                                  UK Shareholders   SA Shareholders 
 
Gross amount of PID              GBP pence   9.4p    163.13230 ZAR 
                                                         cents 
 
Less 20% withholding tax*/20% SA GBP pence   1.88p 32.62646 ZAR cents 
dividends tax** 
 
Net PID dividend payable         GBP pence   7.52p   130.50584 ZAR 
                                                         cents 
 
*Certain categories of UK shareholder may apply for exemption, in which case 
the PID will be paid gross. 
 
**This is the net position after SA Shareholders have claimed back 5% from HMRC 
under the double tax agreement between the United Kingdom and South Africa 
 
(ii) Notes for South African 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 was 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. 
 
 
 
END 
 

(END) Dow Jones Newswires

April 07, 2017 05:00 ET (09:00 GMT)