What is the Scrip Dividend Scheme?
The Scrip Dividend Scheme (Scrip) provides shareholders with an opportunity to receive new ordinary shares instead of cash in respect of any dividend and Property Income Distribution (PID) for which the Scrip is offered.
How does the Scrip work?
If you join the Scrip, you will authorise the Company to issue new ordinary shares to you rather than paying you in cash for your relevant dividend. The Scrip will allow you to increase your shareholding in the Company without incurring dealing costs or stamp duty. This is in contrast to the Dividend Reinvestment Plan (DRIP) where Equiniti, the Company's registrar, arranged for ordinary shares in the Company to be purchased in the market and the dealing costs and/or stamp duty were met by the Shareholder.
How do I join the Scrip?
The Scrip Dividend Scheme Booklet and Mandate Form give full details on how the Scrip works and explain how to join.
For the avoidance of doubt, if you are a member of the DRIP scheme, you will not automatically be deemed to have joined the Scrip. If you wish to join the Scrip you must return a Mandate Form or CREST electronic election.
If you still have questions after reading the Scrip Booklet, please contact Equiniti Limited using the contact details below:
By post at: Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA
By telephone on: 0371 384 2186 (overseas shareholders should call +44 (0) 121 415 0141)
If you are a Euroclear shareholder and you have any questions about the procedure for joining the Scrip please contact your Admitted Institutions.