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Dividend Information

Information about Shaftesbury Capital’s dividends and historic Capco and Shaftesbury dividends can be found in the relevant tabs below.

For information on dividends paid to Capital & Counties Properties PLC shareholders prior to completion of the Merger, please refer to the ''Historic Capco Dividends'' tab.

For information on dividends paid to Shaftesbury PLC shareholders, please refer to the ''Historic Shaftesbury Dividends'' tab.

The Directors of Shaftesbury Capital PLC have proposed a final cash dividend of 1.65 pence per ordinary share (ISIN GB00B62G9D36) payable on Friday 31 May 2024.  

Dates

The following are the salient dates for the payment of the proposed 2023 final cash dividend:

  • Thursday, 29 February 2024 – Proposed 2023 final cash dividend announced
  • Monday, 15 April 2024 - Sterling/Rand exchange rate struck
  • Tuesday, 16 April 2024 - Sterling/Rand exchange rate and dividend amount in Rand announced by 11:00am (South African time)
  • Tuesday, 23 April 2024 – Last day to trade cum-dividend*
  • Wednesday, 24 April 2024 - Ordinary shares listed ex-dividend on the Johannesburg Stock Exchange
  • Thursday, 25 April 2024 - Ordinary shares listed ex-dividend on the London Stock Exchange
  • Friday, 26 April 2024 - Record date for the proposed 2023 final dividend in UK and South Africa
  • Friday, 26 April 2024 – Deadline for submission of declaration of eligibility to receive gross PID payment to UK registrar (COB)
  • Thursday, 23 May 2024 – Annual General Meeting
  • Friday, 31 May 2024 - Dividend payment date for shareholders

The proposed final cash dividend is subject to approval at the Company’s 2024 Annual General Meeting, to be held on Thursday, 23 May 2024.

*South African shareholders should note that, in accordance with the requirements of Strate, the last day to trade cum-dividend will be Tuesday, 23 April 2024. No dematerialisation of shares will be possible from Wednesday, 24 April 2024 to Friday, 26 April 2024 inclusive. No transfers between the UK and South Africa registers may take place from close of business on Tuesday, 16 April 2024 to Friday, 26 April 2024 inclusive. 

The above dates are proposed and subject to change. 

The Property Income Distribution (“PID”) element (being 0.65 pence) will be subject to a deduction of a 20 per cent UK withholding tax unless exemptions apply. The non-PID element (being 1.0 pence) will be treated as an ordinary UK company dividend. 

Information for shareholders

The information below is included only as a general guide to taxation for shareholders based on Shaftesbury Capital's understanding of the law and the practice currently in force. Any shareholder who is in any doubt as to their tax position should seek independent professional advice. 

UK shareholders – PIDs 

Certain categories of shareholders may be eligible for exemption from the 20 per cent UK withholding tax and may register to receive their dividends on a gross basis. Further information, including the required forms, is available from the ‘Investor Information’ section of the Company’s website, or on request from our UK registrars, Link Group. Validly completed forms must be received by Link Group no later than the dividend Record Date, as advised; otherwise the dividend will be paid after deduction of tax. 

South African shareholders

The proposed 2023 final cash dividend declared by the Company is a foreign payment and the funds are sourced from the UK. 

PIDs: A 20 per cent UK withholding tax is applicable to a PID. South African shareholders may apply to HMRC after payment of the PID element of the proposed 2023 final cash dividend for a refund of the difference between the 20 per cent UK withholding tax and the UK/South African double taxation treaty rate of 15 per cent.  

The PID element of the proposed 2023 final cash dividend will be exempt from income tax but will constitute a dividend for Dividends Tax purposes, as it will be declared in respect of a share listed on the exchange operated by the JSE. SA Dividends Tax will therefore be withheld from the PID element of the proposed 2023 final cash dividend at a rate of 20 per cent, unless a shareholder qualifies for an exemption and the prescribed requirements for effecting the exemption are in place by the requisite date. Certain shareholders may also qualify for a reduction of SA Dividends Tax liability to 5 per cent, (being the difference between the SA dividends tax rate and the effective UK withholding tax rate of 15 per cent) if the prescribed requirements for effecting the reduction are in place by the requisite date. 

Non-PID: The non-PID element of the proposed 2023 final cash dividend will be exempt from income tax but will constitute a dividend for SA Dividends Tax purposes, as it will be declared in respect of a share listed on the exchange operated by the JSE. SA Dividends Tax will therefore be withheld from the non-PID element of the proposed 2023 final cash dividend at a rate of 20 per cent, unless a shareholder qualifies for an exemption and the prescribed requirements for effecting the exemption are in place by the requisite date. 

Other overseas shareholders: 

Other non-UK shareholders may be able to make claims for a refund of UK withholding tax deducted pursuant to the application of a relevant double taxation convention. UK withholding tax refunds can only be claimed from HMRC, the UK tax authority. 

Additional information on PIDs and ordinary dividends (Non-PIDs) can be found here.

Information about Shaftesbury Capital PLC’s dividends can be found below:

Year No. Dividend UK Pence ZAR Cents Record Date Payment Date
  PID (gross)* Non-PID* PID (gross)* Non-PID*  
2023 25 Interim - 1.5 - 36.10725 25/08/2023 18/09/2023
2023 26 Final 0.65 1.00 TBC TBC 26/04/2024 31/05/2024
2023   Total 0.65 2.5        

*For further details related to the split (per ordinary share) of the PID and ordinary dividend (Non-PID) elements of any dividend (as applicable) and withholding taxes please refer to the exchange rate announcement released by the Company ahead of the dividend payment date. Such announcements are accessible here

Payment of future dividends

The Company has committed to becoming net zero carbon by 2030. To help meet this commitment and minimise our impact on the environment, future cash dividend payments made by the Company from the start of 2025 will only be made by electronic means. We will no longer be issuing payments by cheque.

Dividends paid to Shareholders on the South African section of the register are already paid electronically.

Shareholders on the UK section of the register who have not already provided bank account details will need to do this to enable payment of cash dividends. Bank account details can be registered using one of the following methods:

  • Via the Share Portal: https://www.signalshares.com. To register, shareholders will need their Investor Code (a unique number that can be found on shareholder correspondence, such as share certificates or dividend tax confirmations).
  • By calling Link Group on 0371 664 0300. If you are outside the United Kingdom, please call +44 371 664 0300. 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 9.00 am – 5.30 pm, Monday to Friday excluding public holidays in England and Wales.

Scrip Dividend Scheme

The Shaftesbury Capital PLC 2023 Scrip Dividend Scheme was approved by shareholders at the 2023 Annual General Meeting. Further information on the Scrip Dividend Scheme is contained in the 2023 Scrip Dividend Scheme Booklet, which can be downloaded below. No Scrip Dividend alternative is being offered in respect of the 2023 final dividend.

Scrip Dividend Scheme Booklet 2023

Information on dividends paid to Capital & Counties Properties PLC shareholders up to 20 March 2023 can be found below.

Year No. Dividend UK Pence ZAR Cents Record Date Payment Date
  PID (gross)* Non-PID* PID (gross)* Non-PID*  
2022 24 Second Interim 0.7 1.0 15.23473 21.76390 03/03/2023 20/03/2023
2022 23 Interim 0.8   15.84640   26/08/2022 19-20/09/20221
2022   Total 1.5 1.0 52.84503    
2021 22 Final 0.5 0.5 9.79315 9.79315 10/06/2022 08/07/2022
2021 21 Interim 0.25 0.25 5.106975 5.106975 27/08/2021 23/09/2021
2021   Total 0.75 0.75 29.80025    
2019 20 Final   1.0   22.84680 17/04/2020 14/05/2020
Capco converted to a REIT on 9 December 2019
2019 19 Interim   0.5 9.23680 30/08/2019 20/09/2019
2019   Total   1.5 32.0836    
2018 18 Final   1.0 18.39590 23/04/2019 16/05/2019
2018 17 Interim   0.5 9.48810 31/08/2018 21/09/2018
2018   Total   1.5 27.8840    

*For further details related to the split (per ordinary share) of the PID and Non-PID elements of any dividend (as applicable) and withholding taxes please refer to the exchange rate announcement released by the Company ahead of the dividend payment date. Such announcements are accessible here.

** As a result of the UK bank holiday announced for Her Majesty Queen Elizabeth II's State Funeral, the payment date for the 2022 interim dividend is 19 September 2022 for shareholders who hold their shares on the South Africa register, and 20 September 2022 for shareholders who hold their shares on the UK register.

Scrip Dividend Scheme

The Capital & Counties Properties PLC 2020 Scrip Dividend Scheme was approved by shareholders at the 2020 Annual General Meeting. Further information on the Scrip Dividend Scheme is contained in the 2020 Scrip Dividend Scheme Booklet, which can be downloaded below.

Scrip Dividend Scheme Booklet 2020

Year

No.

Dividend

Calculation Price

Scrip Ratio

Record date

Payment date

 

 

 

UK Pence

ZAR Cents

UK

SA

 

 

2021

21

Interim

176.1

3,614.58605

1:391.33*

1:393.20799

27/08/2021

23/09/2021

2019

20

Final

154.40

3,425.08220

1:154.40

1:149.91518

17/04/2020

14/05/2020

2019

19

Interim

186.56

3,447.56320

1:373.12

1:373.24216

30/08/2019

20/09/2019

2018

18

Final

244.02

4,519.80410

1: 244.02

1: 245.69627

12/04/2019

16/05/2019

2018

17

Interim

257.72

4,751.31190

1:515.44

1:500.76537

31/08/2018

21/09/2018

2017

16

Final

267.06

4,484.3561

1: 267.06

1:263.10622

20/04/2018

23/05/2018

2017

15

Interim

268.24

4,512.54400

1:536.48

1:533.64995

08/09/2017

29/09/2017

2016

14

Final

294.24

4,931.54860

1:294.24

1:285.86367

21/04/2017

31/05/2017

2016

13

Interim

294.34

5,612.80000

1:588.68

1:584.66667

09/09/2016

30/09/2016

2015

12

Final

335.60

7,374.49420

1:335.60

1:339.74763

27/05/2016

21/06/2016

2015

11

Interim

469.78

9,463.05135

1:939.56 

1:932.44435

04/09/2015

25/09/2015

2014

10

Final

415.58

7,744.38270

1:415.58

1:415.97776 

29/05/2015

19/06/2015

2014

9

Interim

337.82

6000.15

1:675.64

1:678.08

05/08/2014

26/09/2014

2013

8

Final

346.54

6,124

1:346.54

1:348.59608

23/05/2014

19/06/2014

 

2013

7

Interim

341.42

5,242.05

1:682.84

1:672.05736

30/08/2013

25/09/2013

2012

6

Final

316.92

4,446.27

1:316.92

1:318.47790

24/05/2013

20/06/2013

2012

5

Interim

217.02

2777.72

1:434.04

1:435.92935

24/08/2012

18/09/2012

2011

4

Final

197.54

2477.17

1:197.54

1:197.92026

18/05/2012

21/06/2012

Previous documents relating to the Scrip Dividend Scheme

The 2017 Scrip Dividend Scheme, which was approved by shareholders at the 2017 Annual General Meeting, applied to scrip dividends from the 2017 interim dividend to the 2019 final dividend. The 2017 Scrip Dividend Scheme Booklet, plus additional older notices, can be downloaded below. Please note that references made within the Scrip Dividend Booklet to Capita Asset Services should now be read as Link Group.

Scrip Dividend Scheme Booklet 2017

Supplemental Notice - 1 April 2014

Supplemental Notice - 22 February 2013

Supplemental Notice - 14th August 2012

Supplemental Notice - 16 May 2012

Scrip Dividend Announcements

All past Scrip Dividend announcements for the Company can be accessed here.

Information on dividends paid to Shaftesbury PLC shareholders up to 15 February 2023 can be found below.

Year No. Dividend UK Pence Record Date Payment Date
  PID Ordinary  
2022 58 Interim 2.1 0.6 03/02/2023 15/02/2023
2022 57 Interim 5.1   09/12/2022 21/12/2022
2022 56 Interim 4.8   10/06/2022 01/07/2022
2022   Total 12.0 0.6    
2021 55 Final 2.75 1.25 14/01/2022 11/02/2022
2021 54 Interim 2.4   11/06/2021 02/07/2021
2021   Total 5.15 1.25    
2020            
2019 53 Final 5.25 3.75 17/01/2020 14/02/2020
2019 52 Interim 8.7   14/06/2019 05/07/2019
2019   Total 13.95 3.75    
2018 51 Final   8.5 18/01/2019 15/02/2019
2018 50 Interim 8.3   15/06/2018 06/07/2018