Dividend Information

The Directors of Shaftesbury Capital PLC have proposed a final cash dividend of 1.8 pence per ordinary share (ISIN GB00B62G9D36) payable on Friday, 30 May 2025.

Dates

The following are the salient dates for the payment of the proposed 2024 final cash dividend:

• Thursday, 27 February 2025 - Final cash dividend announced
• Wednesday, 9 April 2025 - Sterling/Rand exchange rate struck
• Thursday, 10 April 2025 - Sterling/Rand exchange rate and dividend amount in Rand announced by 11:00am (South Africa time)
• Tuesday, 22 April 2025 - Last day to trade cum-dividend*
• Wednesday, 23 April 2025 - Ordinary shares listed ex-dividend on the Johannesburg Stock Exchange
• Thursday, 24 April 2025 - Ordinary shares listed ex-dividend on the London Stock Exchange
• Friday, 25 April 2025 - Record date for final dividend in UK and South Africa
• Friday, 25 April 2025 - Deadline for submission of declaration of eligibility to receive gross PID payment to UK share registrar
• Thursday, 22 May 2025 - Annual General Meeting
• Friday, 30 May 2025 - Dividend payment date for shareholders

The proposed final cash dividend is subject to approval at the Company’s 2025 Annual General Meeting, to be held on Thursday, 22 May 2025.

* South African shareholders should note that, in accordance with the requirements of Strate, the last day to trade cum-dividend on the Johannesburg Stock Exchange will be Tuesday, 22 April 2025 and that no dematerialisation or rematerialisation of shares will be possible from Wednesday, 23 April 2025 to Friday, 25 April 2025 inclusive. No transfers between the UK and South African registers may take place from close of business on Thursday, 10 April 2025 to Friday, 25 April 2025 inclusive.

The above dates are proposed and subject to change.

The final cash dividend will be paid wholly as a Property Income Distribution ("PID"). There will be no Non-PID (ordinary dividend) element of the final cash dividend. As such, the entire final cash dividend will be subject to a deduction of a 20 per cent UK withholding tax unless exemptions apply.

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 

The final cash dividend will be paid wholly as a PID. 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 the Company’s UK registrar, MUFG Corporate Markets. Validly completed forms must be received by MUFG Corporate Markets no later than the dividend record date, as advised; otherwise the dividend will be paid after deduction of tax.

There will be no Non-PID element of the final cash dividend.

Cash dividends paid directly to bank or building society account

Cash dividend payments made by the Company, including the 2024 final cash dividend of 1.8 pence per ordinary share subject to shareholder approval at the Company’s 2025 Annual General Meeting, will now only be paid by electronic means. The Company will no longer be issuing payments by cheque. To receive cash dividends, shareholders must ensure that they have registered their bank/building society details with the appropriate registrar. Shareholders who hold shares on the UK section of the register can register through the Company’s UK registrar, MUFG Corporate Markets, by visiting Signal Shares or by calling 0371 664 0300. Shareholders who hold shares on the South African section of the register should contact Computershare or their CSDP or broker, as applicable. Cash dividends will be held by the Company on a shareholder’s behalf until bank/building society details are received.

South African shareholders

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

PIDs: The final cash dividend will be paid wholly as a PID and a 20 per cent UK withholding tax is applicable to a PID. As such, South African shareholders may apply to HMRC after payment of the 2024 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 2024 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 2024 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: There will be no Non-PID element of the 2024 final cash dividend.

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:

* 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.

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

*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

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.