REG - SSE Plc - Scrip Alternative

SSEAnnouncement

30/08/2022 15:45

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RNS Number : 6400X  SSE PLC  30 August 2022

SSE PLC

 

FINAL DIVIDEND FOR THE YEAR ENDED 31 MARCH 2022

SCRIP ALTERNATIVE

SSE plc was notified on 29 August 2022 that a total of 26,101 shareholders
have elected to receive the final dividend for the year ended 31 March 2022 of
60.2 pence per ordinary share in respect of 535,745,800 ordinary shares in the
form of Scrip dividend.  This will result in a reduction in final dividend
cash funding of £322,518,972.

A total of 18,241,941 new ordinary shares, fully paid, will be issued on 22
September 2022, representing an increase of 1.71% on the issued share capital
(excluding treasury shares) on the dividend record date of 29 July 2022.  The
relevant Scrip Reference Share Price was 1,768 pence per ordinary share.

In November 2021, as part of its fully funded Net Zero Acceleration Programme,
SSE announced that the existing scrip dividend option for investors would be
capped at 25% of investor uptake, through a share buy-back. Following
notification of the final dividend elections SSE can confirm that overall
scrip dividend take-up for the financial year ended 31 March 2022 was 38.33%.
SSE therefore intends to initiate a share buy-back, in the period following
the final dividend payment for the year ended 31 March 2022, in accordance
with the authority granted by shareholders at SSE's Annual General Meeting on
21 July 2022 and Chapter 12 of the Listing Rules.  The number of ordinary
shares to be purchased will not exceed 6,904,083 ordinary shares, and the
maximum pecuniary amount allocated to the Scrip buy-back is £125,000,000.
SSE intends to complete this process by 31 March 2023.

 

 

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