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Shaftesbury Capital PLC (LSE:SHC), a prominent real estate investment trust, has provided additional details regarding its 2024 interim cash dividend. The dividend, set at 1.7 pence per ordinary share, will be paid on Tuesday, 1 October 2024 to all shareholders registered as of Friday, 23 August 2024.
Dividend Breakdown
The 2024 interim cash dividend will be divided as follows:
- 1.0 pence will be paid as a Property Income Distribution (PID), subject to UK withholding tax.
- 0.7 pence will be paid as an ordinary dividend (non-PID).
Exchange Rate for South African Shareholders
For shareholders on the South African register, the company has confirmed the exchange rate for the interim cash dividend as 23.28310 ZAR to 1 GBP. This rate was determined on Monday, 12 August 2024.
Based on this exchange rate:
- South African shareholders will receive 39.58127 ZAR cents per ordinary share.
- After accounting for the UK withholding tax, the net dividend will be 34.92465 ZAR cents per ordinary share.
Tax Implications
PID Element:
- The PID portion of the dividend (1.0 pence) will be subject to a 20% UK withholding tax unless the shareholder qualifies for an exemption.
Non-PID Element:
- The non-PID portion (0.7 pence) will be treated as a standard UK company dividend.
- For South African shareholders, SA dividends tax will also be applicable where relevant.
Payment Date and Registration
Shareholders will receive the dividend on 1 October 2024, provided they are registered by 23 August 2024. The payment will be made in accordance with the shareholder’s specific register, either in GBP or ZAR, depending on their location.
