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Scrip dividend circulars and dividend taxes
Capital & Counties Properties PLC
(Incorporated and registered in the United Kingdom and Wales with registration Number
07145041 and registered in South Africa as an external company with Registration Number
2010/003387/10)
JSE code: CCO
ISIN: GB00B62G9D36
LEI: 549300TTXXZ1SHUI0D54
20 August 2021
CAPITAL & COUNTIES PROPERTIES PLC (the “Company”)
SCRIP DIVIDEND CIRCULARS
Capital & Counties Properties PLC has today published scrip dividend circulars for those
shareholders holding their shares on the UK share register, and those shareholders holding
their shares on the South African share register.
The circulars explain the terms of the scrip dividend alternative being offered in respect of
the 2021 interim dividend, and how shareholders may elect to receive the scrip dividend
alternative. Shareholders may elect to receive the scrip dividend alternative in respect of the
whole of the cash dividend they would otherwise receive. It is not possible to elect to
receive the scrip dividend alternative in respect of part of a shareholder’s shareholding, or
solely the PID or non-PID element of the 2021 interim dividend.
Copies of the circulars have been submitted to the National Storage Mechanism and will
shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
The circulars may also be viewed on the Company’s website at:
http://www.capitalandcounties.com/
PID, NON-PID and WITHHOLDING TAXES
The 2021 interim dividend of 0.5 pence per ordinary share will be split equally between a
PID and non-PID. The PID element will be subject to deduction of a 20 per cent UK
withholding tax unless exemptions apply. The non-PID element will be treated as an ordinary
UK company dividend. SA dividends tax will also apply, where applicable. Details of the split
(per ordinary share), and withholding taxes are set out below:
UK (p) SA (ZAR cents)
Total (gross) 0.50 10.21395
PID (gross) 0.25 5.10698
UK withholding tax (20%) 0.05 1.02140
PID (net of UK withholding tax) 0.20 4.08558
Less effective 5% SA dividends tax for SA - 0.25535
shareholders, where applicable*
Net PID payable 0.20 3.83023
Non-PID 0.25 5.10698
Less SA withholding tax (20%) - 1.02140
Net Non-PID payable 0.25 4.08558
* where the 20% SA dividends tax rate applies, this will be 1.02140 ZAR cents per ordinary
share, and after UK withholding tax and SA Dividends Tax have been withheld, the net
interim dividend will be 7.14977 ZAR cents per ordinary share (Note this figure is a
correction to the figure of 7.35404 ZAR cents included in the announcement dated 17
August 2021).
Additional information relating to the 2021 interim dividend (including application of SA
dividends tax) is set out in the Company’s interim results published on 27 July 2021 and the
announcement regarding the exchange rate and scrip calculation prices published on 17
August 2021.
The information in these announcements is included only as a general guide to taxation for
shareholders based on Capco'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.
Enquiries:
Ruth Pavey
Company Secretary
Capital & Counties Properties PLC
Tel: + 44 (0) 20 3214 9170
JSE Sponsor
UBS South Africa (Pty) Limited
Date: 20-08-2021 02:00:00
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