Intu Properties Plc Dividend Declaration

 
TIDMINTU 
 
INTU PROPERTIES PLC (the "Company") 
 
LEI: 213800JSNTERD5CJZO95 
 
Regulated Information Classification: Additional regulated information required 
to be disclosed under the laws of a Member State of the EU. 
 
10 October 2017 
 
CONFIRMATION OF DIVIDEND TIMETABLE FOR THE CASH 2017 INTERIM DIVIDEND, EXCHANGE 
RATE AND NOTIFICATION THAT SCRIP DIVIDEND ALTERNATIVE WILL NOT BE OFFERED 
 
On 27 July 2017, the Directors proposed an interim dividend for 2017 of 4.6 
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, 21 November 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 interim 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)           Monday 9 October 2017 
 
Finalisation Date                                Tuesday 10 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            Friday 20 October 2017 
Declaration Forms to permit dividend to be 
paid gross (UK Shareholders only) 
 
Dividend payment date (UK & SA)                 Tuesday 21 November 2017 
 
SA 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 will be possible from 
Wednesday 18 October to Friday 20 October 2017 inclusive. No transfers between 
the UK and South African registers may take place from Tuesday 10 October to 
Friday 20 October 2017 (both days inclusive). 
 
EXCHANGE RATE 
 
(i) Shareholders receiving the dividend in cash: 
 
The Company confirms that the South African Rand exchange rate for the 2017 
interim dividend will be 18.27570 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   4.60  84.06822 ZAR cents 
 
Less 20% withholding tax*/20% SA GBP pence   0.92  16.81364 ZAR cents 
dividends tax** 
 
Net PID dividend payable         GBP pence   3.68  67.25458 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 (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. 
 
 
 
END 
 

(END) Dow Jones Newswires

October 10, 2017 04:00 ET (08:00 GMT)