REG-Royal Dutch Shell: RDS Q1 2016 Dividend Announcement <Origin Href="QuoteRef">RDSa.L</Origin>
04/05/2016 07:08
ROYAL DUTCH SHELL PLC FIRST QUARTER 2016 INTERIM DIVIDEND
The Hague, May 4, 2016 - The Board of Royal Dutch Shell plc ("RDS") today
announced an interim dividend in respect of the first quarter of 2016 of
US$0.47 per A ordinary share ("A Share") and B ordinary share ("B Share"),
equal to the US dollar dividend for the same quarter last year.
RDS provides eligible shareholders with a choice to receive dividends in cash
or in shares via a Scrip Dividend Programme ("the Programme"). For further
details please see below.
Details relating to the first quarter 2016 interim dividend
It is expected that cash dividends on the B Shares will be paid via the
Dividend Access Mechanism from UK-sourced income of the Shell Group.
Per ordinary share Q1 2016
RDS A Shares (US$) 0.47
RDS B Shares (US$) 0.47
Cash dividends on A Shares will be paid, by default, in euro, although holders
of A Shares will be able to elect to receive dividends in pounds sterling.
Cash dividends on B Shares will be paid, by default, in pounds sterling,
although holders of B Shares will be able to elect to receive dividends in
euro.
The pounds sterling and euro equivalent dividend payments will be announced on
June 13, 2016.
Per ADS Q1 2016
RDS A ADSs (US$) 0.94
RDS B ADSs (US$) 0.94
Cash dividends on American Depository Shares ("ADSs") will be paid, by default,
in US dollars.
ADS stands for an American Depositary Share. ADR stands for an American
Depositary Receipt. An ADR is a certificate that evidences ADSs. ADSs are
listed on the NYSE under the symbols RDS.A and RDS.B. Each ADS represents two
ordinary shares, two A Shares in the case of RDS.A or two B Shares in the case
of RDS.B. In many cases the terms ADR and ADS are used interchangeably.
Scrip Dividend Programme
RDS provides shareholders with a choice to receive dividends in cash or in
shares via the Programme.
Under the Programme shareholders can increase their shareholding in RDS by
choosing to receive new shares instead of cash dividends, if approved by the
Board. Only new A Shares will be issued under the Programme, including to
shareholders who currently hold B Shares.
In some countries, joining the Programme may currently offer a tax advantage
compared with receiving cash dividends. In particular, dividends paid out as
shares by the Company will not be subject to Dutch dividend withholding tax
(currently 15 per cent), unlike cash dividends paid on A shares, and they will
not generally be taxed on receipt by a UK shareholder or a Dutch shareholder.
Shareholders who elect to join the Programme will increase the number of shares
held in RDS without having to buy existing shares in the market, thereby
avoiding associated dealing costs.
Shareholders who do not join the Programme will continue to receive in cash any
dividends approved by the Board.
Shareholders who held only B Shares and joined the Programme are reminded they
will need to make a Scrip Dividend Election in respect of their new A Shares if
they wish to join the Programme in respect of such new shares. However, this
is only necessary if the shareholder has not previously made a Scrip Dividend
Election in respect of any new A Shares issued.
For further information on the Programme, including how to join if you are
eligible, please refer to the appropriate publication available on
www.shell.com/scrip.
Dividend timetable for the first quarter 2016 interim dividend
Announcement
date May 4,
2016
Ex-dividend date RDS A and RDS B ADS May 18, 2016
Ex-dividend date RDS A and RDS B shares May 19, 2016
Record
date
May 20, 2016
Scrip reference share price announcement date May 26, 2016
Closing of scrip election and currency election (See Note) June 6, 2016
Pounds sterling and euro equivalents announcement date June 13, 2016
Payment
date
June 27, 2016
Note
Both a different scrip and currency election date may apply to shareholders
holding shares in a securities account with a bank or financial institution
ultimately holding through Euroclear Nederland. This may also apply to other
shareholders who do not hold their shares either directly on the Register of
Members or in the corporate sponsored nominee arrangement. Shareholders can
contact their broker, financial intermediary, bank or financial institution for
the election deadline that applies. A different scrip election date may apply
to registered and non-registered ADS holders. Registered ADS holders can
contact The Bank of New York Mellon for the election deadline that applies.
Non-registered ADS holders can contact their broker, financial intermediary,
bank or financial institution for the election deadline that applies.
Taxation - cash dividends
Cash dividends on A Shares will be subject to the deduction of Dutch dividend
withholding tax at the rate of 15%, which may be reduced in certain
circumstances.
In April 2016, there were changes to the UK taxation of dividends. The dividend
tax credit has been abolished, and a new tax free dividend allowance of £5,000
introduced. Dividend income in excess of the allowance will be taxable at the
following rates: 7.5% within the basic rate band; 32.5% within the higher rate
band; and 38.1% on dividend income taxable at the additional rate.
If you are uncertain as to the tax treatment of any dividends you should
consult your own tax advisor.
Royal Dutch Shell plc
Contacts:
- Investor Relations: Europe + 31 (0) 70 377 4540; North America +1 832 337
2034
- Media: International +44 (0) 207 934 5550; Americas +1 713 241 4544
CAUTIONARY NOTE
The companies in which Royal Dutch Shell plc directly and indirectly owns
investments are separate legal entities. In this release "Shell", "Shell group"
and "Royal Dutch Shell" are sometimes used for convenience where references are
made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the
words "we", "us" and "our" are also used to refer to subsidiaries in general or
to those who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or companies.
''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this
release refer to companies over which Royal Dutch Shell plc either directly or
indirectly has control. Entities and unincorporated arrangements over which
Shell has joint control are generally referred to as "joint ventures" and
"joint operations" respectively. Entities over which Shell has significant
influence but neither control nor joint control are referred to as
"associates". The term "Shell interest" is used for convenience to indicate the
direct and/or indirect ownership interest held by Shell in a venture,
partnership or company, after exclusion of all third-party interest.
This release contains forward-looking statements concerning the financial
condition, results of operations and businesses of Royal Dutch Shell. All
statements other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are statements of
future expectations that are based on management's current expectations and
assumptions and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
expressed or implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of Royal Dutch
Shell to market risks and statements expressing management's expectations,
beliefs, estimates, forecasts, projections and assumptions. These
forward-looking statements are identified by their use of terms and phrases
such as ''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'',
''goals'', ''intend'', ''may'', ''objectives'', ''outlook'', ''plan'',
''probably'', ''project'', ''risks'', "schedule", ''seek'', ''should'',
''target'', ''will'' and similar terms and phrases. There are a number of
factors that could affect the future operations of Royal Dutch Shell and could
cause those results to differ materially from those expressed in the
forward-looking statements included in this release, including (without
limitation): (a) price fluctuations in crude oil and natural gas; (b) changes
in demand for Shell's products; (c) currency fluctuations; (d) drilling and
production results; (e) reserves estimates; (f) loss of market share and
industry competition; (g) environmental and physical risks; (h) risks
associated with the identification of suitable potential acquisition properties
and targets, and successful negotiation and completion of such transactions;
(i) the risk of doing business in developing countries and countries subject to
international sanctions; (j) legislative, fiscal and regulatory developments
including regulatory measures addressing climate change; (k) economic and
financial market conditions in various countries and regions; (l) political
risks, including the risks of expropriation and renegotiation of the terms of
contracts with governmental entities, delays or advancements in the approval of
projects and delays in the reimbursement for shared costs; and (m) changes in
trading conditions. All forward-looking statements contained in this release
are expressly qualified in their entirety by the cautionary statements
contained or referred to in this section. Readers should not place undue
reliance on forward-looking statements. Additional risk factors that may affect
future results are contained in Royal Dutch Shell's 20-F for the year ended
December 31, 2015 (available at www.shell.com/investor and www.sec.gov ). These
risk factors also expressly qualify all forward looking statements contained in
this release and should be considered by the reader. Each forward-looking
statement speaks only as of the date of this release, May 4, 2016 Neither Royal
Dutch Shell plc nor any of its subsidiaries undertake any obligation to
publicly update or revise any forward-looking statement as a result of new
information, future events or other information. In light of these risks,
results could differ materially from those stated, implied or inferred from the
forward-looking statements contained in this release.
We may have used certain terms, such as resources, in this release that United
States Securities and Exchange Commission (SEC) strictly prohibits us from
including in our filings with the SEC. U.S. Investors are urged to consider
closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC
website www.sec.gov.
END
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