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BRITISH AMERICAN TOBACCO PLC - Proposed Interim Dividend Timetable For The Year Ending 31 December 2017 And Introduction Of Quarterly Dividend

Release Date: 26/04/2017 08:00
Code(s): BTI     PDF:  
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Proposed Interim Dividend Timetable For The Year Ending 31 December 2017 And Introduction Of Quarterly Dividend

British American Tobacco p.l.c.
Incorporated in England and Wales
(Registration number: 03407696)
Short name: BATS
Share code: BTI
ISIN number: GB0002875804
("British American Tobacco p.l.c." or "the Company")


                          British American Tobacco p.l.c. (the “Company”)

    PROPOSED INTERIM DIVIDEND TIMETABLE FOR THE YEAR ENDING 31 DECEMBER 2017 AND
              INTRODUCTION OF QUARTERLY DIVIDEND PAYMENTS FROM 2018

Proposed dates in respect of the Interim Dividend for the year ending 31 December 2017

With particular reference to the Company's obligations in respect of the secondary listing of its
ordinary shares on the JSE, please be advised that the proposed dates in respect of the interim
dividend for the year ending 31 December 2017 are currently scheduled as follows:

2017

Thursday 27 July                           Half-Year Report and declaration of interim dividend:
                                           amount of dividend per ordinary share in both sterling and
                                           rand; applicable exchange rate and conversion date –
                                           Tuesday 25 July 2017; plus additional applicable
                                           information as required in respect of South Africa
                                           Dividends Tax.

Thursday 27 July to Friday 18 August       From the commencement of trading on Thursday 27 July
                                           2017 to Friday 18 August 2017 (inclusive), no removal
                                           requests in either direction between the UK main register
                                           and the South Africa branch register will be permitted.

Tuesday 15 August                          Last Day to Trade or LDT (JSE)

Wednesday 16 August to Friday 18 August    From the commencement of trading on Wednesday 16
                                           August 2017 to Friday 18 August 2017 (inclusive), no
                                           transfers between the UK main register and the South
                                           Africa branch register will be permitted; no shares may be
                                           dematerialised or rematerialised.

Wednesday 16 August                        Ex-dividend date (JSE)

Thursday 17 August                         Ex-dividend date (LSE)

Friday 18 August                           Record date (LSE and JSE)

Thursday 7 September                       Last date for receipt of Dividend Reinvestment Plan (DRIP)
                                           elections (UK main register only)

Thursday 28 September                      Payment date (sterling and rand)

Notes:
  (1) For holders of American Depositary Receipts (ADRs)(NYSE MKT symbol BTI), the record date for ADRs is
      also Friday 18 August 2017 with an ADR payment date of Tuesday 3 October 2017.
  (2) Any changes to the dates set out above will be announced. This timetable will be included in the Half-
      Year Report scheduled for release on Thursday 27 July 2017.

Introduction of Quarterly Dividend Payments from 2018

With effect from 2018, the Company will move to four interim quarterly dividend payments. The
dividend amount will be announced as part of the Preliminary Results announcement for the year
ending 31 December 2017 in February 2018 and will be paid in four equal instalments in May 2018,
August 2018, November 2018 and February 2019. As part of the transition to quarterly dividend
payments, and to ensure shareholders receive the equivalent amount of total cash payments in 2018
as they would have under the previous payment policy, an additional interim dividend will be
announced in December 2017 for payment in February 2018 and will be calculated as 25% of the
total cash dividend paid in 2017. The proposed payment dates, record dates and ex-dividend dates
for the dividend payments are set out below.

Quarterly dividends will provide shareholders with a more regular flow of dividend income and will
allow the Company to spread its substantial dividend payments more evenly over the year. The
dividends will align better with the cash flow generation of the Company and thus enable the
Company to fund the payments more efficiently.

The Group’s policy to pay dividends of 65% of long-term sustainable earnings, calculated with
reference to the adjusted diluted earnings per share, remains unchanged.

Proposed dates for the second interim dividend payment and quarterly dividend payments for the
year ending 31 December 2017

Event             Second                               Quarterly Dividend Payments
                  Interim           Payment            Payment         Payment              Payment
                  dividend          Number 1           Number 2        Number 3             Number 4
Ex-dividend       27 Dec 2017       20 Mar 2018        27 Jun 2018     3 Oct 2018           24 Dec 2018
date (JSE)
Ex-dividend       28 Dec 2017       22 Mar 2018        28 Jun 2018        4 Oct 2018        27 Dec 2018
date (LSE)
Record date       29 Dec 2017       23 Mar 2018        29 Jun 2018        5 Oct 2018        28 Dec 2018
Payment date      8 Feb 2018        9 May 2018         9 Aug 2018         15 Nov 2018       7 Feb 2019

Notes:
  (1) The dates set out above are subject to any changes to public holidays arising and changes or revisions to
      the London Stock Exchange and JSE timetables. Any changes to the dates will be announced.
  (2) For the purpose of the Company’s secondary listing on the JSE, a full timetable of the salient dates for
      the second interim dividend will be announced in December 2017 and a full timetable for the quarterly
      dividend payments will be included in the Preliminary Results Announcement in February 2018.

Name of duly authorised officer of issuer responsible for making notification:

Nicola Snook
Company Secretary
British American Tobacco p.l.c.

26 April 2017

Enquiries:

Investor Relations
Mike Nightingale/Rachael Brierley/Sabina Marshman
+44 20 7845 1180/1519/1781

British American Tobacco Press Office
Anna Vickerstaff
+44 20 7845 2888



Sponsor: UBS South Africa (Pty) Ltd

Date: 26/04/2017 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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