INTU Intu Properties Plc

 
TIDMINTU 
 
INTU PROPERTIES PLC (the "Company") 
 
LEI: 213800JSNTERD5CJZO95 
 
Regulated Information Classification: Additional regulated information required 
to be disclosed under the laws of a Member State of the EU. 
 
10 April 2018 
 
CONFIRMATION OF DIVIDEND TIMETABLE FOR THE CASH 2017 FINAL DIVIDEND, EXCHANGE 
RATE AND NOTIFICATION THAT SCRIP DIVIDEND ALTERNATIVE WILL NOT BE OFFERED 
 
On 22 February 2018, the Directors proposed a final dividend for 2017 of 9.4 
pence per share (the "Final Dividend") subject to approval by the shareholders 
of the Company at the Annual General Meeting to be held on Wednesday, 25 April 
2018, to bring the total dividend per ordinary share for the year to 14.0 
pence. 
 
The Final Dividend will be paid partly as a Property Income Distribution 
("PID") with a gross value of 8.0 pence per share, which will be subject to 
deduction of a 20 per cent UK withholding tax unless exemptions apply, and 
partly as a normal dividend ("Non-PID") with a value of 1.4 pence per share. 
 
A scrip dividend alternative will not be offered on this occasion and all 
shareholders will therefore receive the dividend in cash. 
 
For further information regarding the Final Dividend, we recommend that 
shareholders contact our registrars in the UK or South Africa as follows:- 
 
UK Shareholders: 
 
Link Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU 
(Tel: +44 (0) 371 664 0300). Calls are charged at the standard geographic rate 
and will vary by provider. Calls outside the United Kingdom will be charged at 
the applicable international rate. Lines are open between 9.00am - 5.30pm, 
Monday to Friday excluding public holidays in England and Wales. 
 
SA Shareholders: 
 
Terbium Financial Services (Pty) Ltd, 31 Beacon Road, Florida-North, 
Johannesburg, 1709, South Africa (postal address: PO Box 61272, Marshalltown, 
2107, South Africa) (Tel: 0860 2222 13). 
 
or by download from 
 
intugroup.co.uk/en/investors/shareholder-information/dividends/ 
 
DIVIDEND TIMETABLE 
 
A timetable of events in relation to the dividend is set out below. 
 
Currency Conversion Date (Sterling/Rand)             Monday 9 April 2018 
 
Finalisation Date                                  Tuesday 10 April 2018 
 
Ex-dividend date (SA)                            Wednesday 18 April 2018 
 
Ex-dividend date (UK)                             Thursday 19 April 2018 
 
Record Date (both UK and SA)                        Friday 20 April 2018 
 
Last date for receipt of Tax Exemption              Friday 20 April 2018 
Declaration Forms to permit dividend to be 
paid gross (UK Shareholders only) 
 
Dividend payment date (UK & SA)                     Thursday 17 May 2018 
 
SA shareholders should note that, in accordance with the requirements of 
Strate, the last day to trade cum-dividend will be Tuesday 17 April 2018 and 
that no dematerialisation or rematerialisation of shares will be possible from 
Wednesday 18 April to Friday 20 April 2018 inclusive. No transfers between the 
UK and South African registers may take place from Tuesday 10 April to Friday 
20 April 2018 (both days inclusive). 
 
EXCHANGE RATE 
 
(i) Shareholders receiving the dividend in cash: 
 
The Company confirms that the South African Rand exchange rate for the Final 
Dividend will be 16.8338 ZAR to 1 GBP. Shareholders will receive a cash 
dividend per ordinary share which will be paid as follows: 
 
PID                               UK Shareholders   SA Shareholders 
 
Gross amount of PID              GBP pence   8.00    134.67040 ZAR 
                                                         cents 
 
Less 20% withholding tax*/20% SA   GBP pence 1.6   26.93408 ZAR cents 
dividends tax** 
 
Net PID dividend payable          GBP pence 6.4      107.73632 ZAR 
                                                         cents 
 
*Certain categories of UK shareholder may apply for exemption, in which case 
the PID will be paid gross. 
 
**This is the net position after South African Shareholders have claimed back 
5% from HMRC under the double tax agreement between the United Kingdom and 
South Africa 
 
Non-PID                           UK Shareholders   SA Shareholders 
 
Gross amount of Non-PID          GBP pence   1.40  23.56732 ZAR cents 
 
Less 20% SA dividends tax              n/a         4.71346 ZAR cents 
 
Net Non-PID dividend payable     GBP pence   1.40  18.85386 ZAR cents 
 
(ii) Notes for South African shareholders 
 
PIDs 
 
A 20 per cent UK withholding tax will be deducted from PIDs. The Company will 
account to Her Majesty's Revenue & Customs ("HMRC") in sterling for the total 
UK withholding tax deducted. SA dividends tax, at the rate of 20 per cent will 
apply to cash PIDs payable by the Company unless the beneficial owner of the 
dividend is exempt from SA dividends tax (e.g. if it is a South African 
resident company). 
 
Under the double tax agreement between the UK and South Africa, the maximum tax 
payable in the UK is 15 per cent. Therefore on application by South African 
resident shareholders, 5 per cent of the PID (i.e. one quarter of the 20 per 
cent UK withholding tax deducted from a PID) is claimable from HMRC, resulting 
in an effective UK withholding tax rate of 15 per cent.  Settlement of any 
claims for refund will be calculated and settled in sterling by HMRC. As UK 
withholding tax will be applicable at an effective rate of 15 per cent, the SA 
dividends tax liability will be reduced to 5 per cent.  In such cases the 
overall tax deducted will therefore be 20 per cent (15 per cent in the UK and 5 
per cent in South Africa). 
 
The information given in section (i) above will assist with applications for 
refunds. For information on PIDs and refund claims, including claim forms and 
guidance on how to complete them, visit intugroup.co.uk/en/investors/ 
shareholder-information/real-estate-investment-trust/. 
 
Non-PIDs 
 
SA dividends tax at the rate of 20% will apply to cash Non-PIDs paid by the 
Company, unless the beneficial owner of the Dividend is exempt from SA 
dividends tax (e.g. if it is a South African resident company).  Since no 
withholding tax is suffered in the UK on Non-PIDs, no rebate can be claimed. 
 The relevant regulated intermediary (being the SA transfer secretaries or 
other CSDP, broker or institution, as applicable) will therefore be required to 
deduct 20% tax on all cash Non-PID's paid to persons who are not exempt from SA 
dividends tax, and pay this to the South African Revenue Service. 
 
The number of shares in issue as at the declaration date (i.e. 10 April 2018) 
is 1,355,040,243 ordinary shares of 50p each. 
 
The above information and the guidelines on the taxation of dividends are 
provided as a general guide based on the Company's understanding of the law and 
practice currently in force.  Any shareholder who is in any doubt as to their 
tax position should seek independent professional advice. 
 
 
 
END 
 

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