Scrip dividend scheme

Our Scrip Dividend Scheme (the 'Scheme') enables participating shareholders to receive new ordinary shares instead of cash, when a Scrip Dividend Alternative is offered for a particular dividend. The Scheme therefore allows shareholders to increase their shareholding in the Company without incurring dealing costs or stamp duty.

Shareholders holding shares in certificated form can elect to join the Scheme by completing the below Scrip Dividend Mandate Form and returning it to our registrars, Equiniti Limited. Shareholders holding shares in uncertificated form can elect to join the Scheme by submitting a CREST Dividend Election Input Message in accordance with the CREST Manual.

The Scrip Dividend Scheme Booklet provides detailed information on the Scheme and how to join. The Booklet can be accessed via the link below, along with information on changes to the Scheme which came into effect in 2010.

Following a change in legislation in December 2010, a Scrip Alternative can now attract Property Income Distribution (PID) treatment. Previously, Scrip Alternatives could only be treated as non-Property Income Distribution (non-PID). This has allowed us to offer a PID Scrip Dividend alternative on occasions when the dividend must be entirely in PID form to meet the Group's REIT obligations. More information on PID and non-PID dividends can be found on the REITs and Dividends page.

Information on dividends that have been announced and dividends that have been paid can be found on the Dividends page. When a Scrip alternative is offered for a particular dividend, details of the deadline for receipt of Scrip Mandates and the dates on which the Scrip calculation price will be set will be announced via the Regulatory News section of the website in a Dividend Declaration announcement. The Scrip Calculation Price will be announced via Regulatory News on the business day following the price setting period.

Past scrip dividend payments

Open all

2015/16

Dividend Ex-div date Payment date PID Non-PID Scrip
mandate
deadline
Scrip
calculation
price
Scrip
dividend
take up
2nd Interim 7 Jan 16 12 Feb 16 7.09p   22/01/2016 £7.451 6.27%
1st Interim 1 Oct 15 6 Nov 15 7.09p   16/10/2015 £8.418 29.91%

2014/15

Dividend Ex-div
date
Payment
date
PID Non-PID Scrip
mandate
deadline
Scrip
calculation
price
Scrip
dividend
take up
4th interim 2-Jul-15 7-Aug-15   6.92p 17/07/2015 £8.026 40.12%
1st interim 1-Oct-14 7-Nov-14 6.92p   17/10/2014 £6.88 9.35%

2013/14

Dividend Ex-div
date
Payment
date
PID Non-PID Scrip
mandate
deadline
Scrip
calculation
price
Scrip
dividend
take up
4th interim 2-Jul-14 8-Aug-14   6.75p 18/07/2014 £6.933 35.03%
3rd interim 19-Mar-14 2-May-14   6.75p 09/04/2014 £6.638 29.98%
2nd interim 8-Jan-14 14-Feb-14 6.75p   24/01/2014 £6.374 40.70%
1st interim 2-Oct-13 8-Nov-13 6.75p   18/10/2013 £5.750 38.72%

2012/13

Dividend Ex-div
date
Payment
date
PID Non-PID Scrip
mandate
deadline
Scrip
calculation
price
Scrip
dividend
take up
4th interim 3-Jul-13 9-Aug-13   6.60p 19/07/2013 £5.903 45.00%
3rd interim 27-Mar-13 10-May-13   6.60p 17/04/2013 £5.472 43.80%
2nd interim 9-Jan-13 15-Feb-13   6.60p 25/01/2013 £5.683 16.13%
1st interim 3-Oct-12 9-Nov-12   6.60p 19/10/2012 £5.181 38.65%

2010/11

Dividend Ex-div
date
Payment
date
PID Non-PID Scrip
mandate
deadline
Scrip
calculation
price
Scrip
dividend
take up
4th interim 6-Jul-11 12-Aug-11 6.50p   22/07/2011 £6.002 18.87%
3rd interim 30-Mar-11 13-May-11 6.50p   18/04/2011 £5.599 15.55%
2nd interim 12-Jan-11 18-Feb-11 6.50p   28/01/2011 £5.280 11.13%
1st interim 6-Oct-10 12-Nov-10   6.50p 22/10/2010 £4.920 45.61%

2009/10

Dividend Ex-div
date
Payment
date
PID Non-PID Scrip
mandate
deadline
Scrip
calculation
price
Scrip
dividend
take up
4th interim* 7-Jul-10 13-Aug-10   6.50p 23/07/2010 £4.520 43.20%
3rd interim* 7-Apr-10 14-May-10   6.50p 22/04/2010 £4.798 44.10%
2nd interim* 13-Jan-10 12-Feb-10   6.50p 22/01/2010 £4.579 34.48%
1st interim* 14-Oct-09 13-Nov-09   6.50p 23/10/2009 £4.785 39.30%

* This Scrip Dividend payment was enhanced

2008/09

Dividend Ex-div
date
Payment
date
PID Non-PID Scrip
mandate
deadline
Scrip
calculation
price
Scrip
dividend
take up
4th interim* 15-Jul-09 14-Aug-09   6.50p 24/07/2009 £3.658 41.46%

* This Scrip Dividend payment was enhanced

As a result of the introduction of the Scrip Dividend Scheme, we suspended our Dividend Reinvestment Plan (DRIP). Accordingly, all DRIP measures are automatically suspended.