REG - Prudential PLC - Dividend Declaration - Scrip Dividend Alternative

PrudentialAnnouncement

30/08/2024 07:00

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RNS Number : 3012C  Prudential PLC  30 August 2024

30 August 2024

 

Prudential plc - Scrip Dividend Alternative

 

Following our announcement on 28 August 2024 of a 2024 first interim dividend
of 6.84 US cents per ordinary share, we are pleased to confirm that a scrip
dividend alternative will be offered in respect of the 2024 first interim
dividend in accordance with the shareholder approval obtained at the 2024
annual general meeting.

 

Elections for the scrip dividend alternative must be received by the deadlines
specified in the timetable below.

 

The scrip dividend alternative will involve the issuance of relevant new
ordinary shares on the Hong Kong line only. Prudential plc ("Prudential") will
make available a share dealing facility (the "Dealing Facility") to enable
shareholders who are not able to hold their shares on the Hong Kong line to
participate in the scrip dividend alternative. Full particulars of the scrip
dividend and the Dealing Facility are expected to be provided to shareholders
on or around 13 September 2024 and the terms and conditions of the scrip
dividend scheme will subsequently also be made available on Prudential's
website. The scrip dividend alternative is conditional upon the Financial
Conduct Authority, the London Stock Exchange, the Hong Kong Stock Exchange and
the Singapore Stock Exchange granting the listing of and permission to deal in
the new shares to be issued under the scrip dividend.

 

The scrip dividend alternative is offered in addition to the Dividend
Reinvestment Plan (DRIP), which continues to be available to shareholders on
the UK register. The DRIP enables the relevant shareholders to elect to invest
their cash dividends in the purchase of Prudential shares in the market.
Further information on the DRIP is available at
https://www.prudentialplc.com/en/investors/shareholder-information/dividend/dividend-reinvestment-plan
(https://www.prudentialplc.com/en/investors/shareholder-information/dividend/dividend-reinvestment-plan)

 

2024 first interim dividend timetable (scrip dividend alternative and DRIP)

 

 Ex-dividend date                                                                5 September 2024 (Hong Kong, UK and Singapore)
 Record date                                                                     6 September 2024
 Announcement of scrip reference price((1))                                      12 September 2024
 Expected publication of scrip dividend circular and mandate forms               On or around 13 September 2024
 Deadline for receipt of scrip elections                                         5.30pm (Singapore time) on 20 September 2024 (Singapore)

                                                                                 5.00pm (UK time) (UK) or 4.30pm (Hong Kong time) (Hong Kong)((2)) on 30
                                                                                 September 2024
 Deadline for receipt of Dividend Re-investment Plan elections                   5.00pm (UK time) on 30 September 2024 (UK)
 Payment date, where cash dividends are paid and scrip shares are issued (other  23 October 2024 (Hong Kong, UK and ADR holders)
 than scrip shares to be sold under the Dealing Facility)

                                                                                 On or around 30 October 2024 (Singapore)

 

 

Notes:

 

(1)   The price used to calculate the number of new ordinary shares offered
under the scrip dividend alternative is the average middle-market price of the
shares of Prudential on the London Stock Exchange over a five-day dealing
period commencing on the ex-dividend date and converted to US Dollars using
the WMR spot exchange rates quoted by Bloomberg in London at or around 11.00am
on 11 September 2024.

 

(2)   The latest time for returning the mandate form by Hong Kong
shareholders may be extended, as the case may be, if a tropical cyclone
warning signal number 8 or above, or "extreme conditions" announced by the
Government of Hong Kong, or a "black" rainstorm warning signal is in force in
Hong Kong on Monday, 30 September 2024. Details will be provided in the
circular which is expected to be published on or around 13 September 2024.

 

(3)   Currency election details were announced on 28 August 2024 and are not
included in this announcement.

 

(4)   All shares bought back by Prudential awaiting cancellation on the
Record Date are not eligible for the 2024 first interim dividend.

 

Shares held on the UK register via CREST

 

On 10 September 2024, Prudential's registrar, Computershare Investor Services
PLC ("Computershare"), will distribute Electronic Election Entitlements (EEEs)
(Interim ISIN code GB00BSFVB225) for ordinary shares to all holders of
Prudential shares in CREST ("CREST Shareholders") on the dividend record date
of Friday, 6 September 2024. To make an election, CREST Shareholders will be
required to transfer an appropriate number of entitlement shares into a CREST
member account via an Unmatched Stock Event ("USE") transaction. There will be
a separate account designated to each option, and these details will be made
available in the CREST system.

 

Elections via CREST should be received by Computershare no later than 5.00pm
(UK time) on 30 September 2024. If the USE is not settled by such deadline,
the dividend will be paid in cash in the default currency. CREST Shareholders
will need to ensure that their election is made to the appropriate CREST
Member Account as detailed in the Corporate Action event that will be made
available in the CREST system by Euroclear UK & International Limited
("Euroclear") against the Interim ISIN Code GB00BSFVB225.

 

An election via CREST will not apply in respect of future dividends. Euroclear
will centrally delete all existing dividend election instruction messages
previously submitted on Prudential ordinary Shares, prior to the Record Date.
Furthermore, it will not be possible to submit dividend election instruction
messages from this date as this functionality will be removed in CREST from
the ordinary shares. Therefore, in order to avoid automatically receiving the
cash dividend in its default currency, elections will need to be made via the
Dividend with Options (DWO) for every future dividend.

 

Contacts

 

 Media                             Investors/Analysts
 Simon Kutner  +44 (0)7581 023260  Patrick Bowes       +852 9611 2981
 Sonia Tsang   +852 5580 7525      William Elderkin    +44 (0)20 3977 9215
                                   Darwin Lam          +852 2918 6348

 

 

 

About Prudential plc

 

Prudential plc provides life and health insurance and asset management in 24
markets across Asia and Africa. Prudential's mission is to be the most trusted
partner and protector for this generation and generations to come, by
providing simple and accessible financial and health solutions. The business
has dual primary listings on the Stock Exchange of Hong Kong (2378) and the
London Stock Exchange (PRU). It also has a secondary listing on the Singapore
Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the
form of American Depositary Receipts. It is a constituent of the Hang Seng
Composite Index and is also included for trading in the Shenzhen-Hong Kong
Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

 

Prudential is not affiliated in any manner with Prudential Financial, Inc. a
company whose principal place of business is in the United States of America,
nor with The Prudential Assurance Company Limited, a subsidiary of M&G
plc, a company incorporated in the United Kingdom.

 

The ISIN code for the ordinary shares of Prudential is GB0007099541 and the
TIDM code is PRU.

( )

https://www.prudentialplc.com/ (https://www.prudentialplc.com/en)

 

 

 

 

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