The Board of Royal Dutch Shell plc (“RDS”) today announced an interim dividend in respect of the fourth quarter 2013 of US$0.45 per A ordinary share (“A Share”) and B ordinary share (“B Share”), an increase of US$0.02 on the equivalent US dollar dividend for the same quarter last year.
The Board expects that the first quarter 2014 interim dividend will be US$0.47, an increase of 4.4% over the US dollar dividend for the same quarter in the previous year. The first quarter 2014 interim dividend is scheduled to be announced on April 30, 2014.***
RDS provides eligible shareholders with a choice to receive dividends in cash or in shares via a Scrip Dividend Programme (“the Programme”). For further details please see below.
Details relating to the fourth quarter 2013 interim dividend
It is expected that cash dividends on the B Shares will be paid via the Dividend Access Mechanism from UK-sourced income of the Shell Group.
|Per ordinary share||Q4 2013|
|RDS A shares (US$)||0.45|
|RDS B shares (US$)||0.45|
Cash dividends on A Shares will be paid, by default, in euro, although holders of A Shares will be able to elect to receive dividends in pounds sterling.
Cash dividends on B Shares will be paid, by default, in pounds sterling, although holders of B Shares will be able to elect to receive dividends in euro.
The pounds sterling and euro equivalent dividend payments will be announced on March 7, 2014.
|Per ADS||Q4 2013|
|RDS A ADSs (US$)||0.90|
|RDS B ADSs (US$)||0.90|
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 a Scrip Dividend Programme.
Under the Programme shareholders can increase their shareholding in RDS by choosing to receive new shares instead of cash dividends if declared by RDS. Only new A Shares will be issued under the Programme, including to shareholders who currently hold B Shares.
Joining the Programme may offer a tax advantage in some countries compared with receiving cash dividends. In particular, dividends paid out as shares will not be subject to Dutch dividend withholding tax (currently 15 per cent) and will not generally be taxed on receipt by a UK shareholder or a Dutch corporate 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 declared by RDS.
Shareholders who held only B Shares and joined the Scrip Dividend 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 fourth quarter 2013 interim dividend
|4th quarter 2013|
|Announcement date||Jan 30, 2014|
|Ex-dividend date||Feb 12, 2014|
|Record date||Feb 14, 2014|
|Scrip reference share price announcement date||Feb 19, 2014|
|Closing of scrip election and currency election (*)||Feb 28, 2014|
|Pounds sterling and euro equivalents announcement date||Mar 7, 2014|
|Payment date||Mar 27, 2014|
* 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.
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. Please contact your broker, financial intermediary, bank or financial institution where you hold your securities account for the election deadline that applies.
Taxation cash dividends
Cash dividends on A Shares will be subject to the deduction of Netherlands dividend withholding tax at the rate of 15%, which may be reduced in certain circumstances. Provided certain conditions are met, shareholders in receipt of A Share cash dividends may also be entitled to a non-payable dividend tax credit in the United Kingdom.
Shareholders resident in the United Kingdom, receiving cash dividends on B Shares through the Dividend Access Mechanism, are entitled to a tax credit. This tax credit is not repayable. Non-residents may also be entitled to a tax credit, if double tax arrangements between the United Kingdom and their country of residence so provide, or if they are eligible for relief given to non-residents with certain special connections with the United Kingdom or to nationals of states in the European Economic Area.
The amount of tax credit is 10/90ths of the cash dividend, the tax credit referable to the fourth quarter 2013 interim dividend of US$0.45 is US$0.05 per ordinary share and the dividend and tax credit together amount to US$0.50. The pounds sterling and euro equivalents will be announced on March 7, 2014.
Royal Dutch Shell plc
The Hague, January 30th, 2014
*** Revised since the original dividend timetable announcement on October 31, 2013 as per the stock exchange notice on March 5, 2014.
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The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate 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 in which Royal Dutch Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as “associated companies” or “associates” and companies in which Shell has joint control are referred to as “jointly controlled entities”. In this release, associates and jointly controlled entities are also referred to as “equity-accounted investments”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect (for example, through our 23% shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
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