Dividend Information

The Directors of Shaftesbury Capital PLC have declared an interim cash dividend of 1.7 pence per ordinary share (ISIN GB00B62G9D36) payable on 1 October 2024.

Dates

The following are the salient dates for the payment of the interim cash dividend:

• Wednesday, 31 July 2024 - Interim cash dividend announced
• Monday, 12 August 2024 - Sterling/Rand exchange rate struck
• Tuesday, 13 August 2024 - Sterling/Rand exchange rate and dividend amount in Rand announced by 11:00am (South Africa time)
• Tuesday, 20 August 2024 - Last day to trade cum-dividend*
• Wednesday, 21 August 2024 - Ordinary shares listed ex-dividend on the Johannesburg Stock Exchange
• Thursday, 22 August 2024 - Ordinary shares listed ex-dividend on the London Stock Exchange
• Friday, 23 August 2024 - Record date for interim dividend in UK and South Africa
• Friday, 23 August 2024 - Deadline for submission of declaration of eligibility to receive gross PID payment to UK share registrar
• Tuesday, 1 October 2024 - Dividend payment date for shareholders

*South African shareholders should note that, in accordance with the requirements of Strate, the last day to trade cum-dividend will be Tuesday, 20 August 2024 and that no dematerialisation or rematerialisation of shares will be possible from Wednesday, 21 August 2024 to Friday, 23 August 2024 inclusive. No transfers between the UK and South African registers may take place from close of business on Tuesday, 13 August 2024 to Friday, 23 August 2024 inclusive.

The above dates are proposed and subject to change.

The Property Income Distribution ("PID") element (being 1.0 pence) will be subject to a deduction of a 20 per cent UK withholding tax unless exemptions apply. The non-PID element (being 0.7 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 interim 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 2024 interim 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 2024 interim 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 2024 interim 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 2024 interim 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 2024 interim 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:

*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.

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.