On May 22, 2014 RDS announced the cancellation of its Scrip Dividend Programme with effect from the second quarter 2014 Interim dividend onwards. The cancellation means the second quarter 2014 Interim Dividend and future dividends will be settled entirely in cash, rather than offering a share-based alternative.
Details relating to the second quarter 2014 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 Q2 2014 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 September 8, 2014.
Per ADS Q2 2014 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.
Dividend timetable for the second quarter 2014 interim dividend 2nd quarter 2014 Announcement date July 31, 2014 Ex-dividend date August 13, 2014 Record date August 15, 2014 Closing of currency election* September 1, 2014 Pounds sterling and euro equivalents announcement date September 8, 2014 Payment date September 25, 2014
* A different 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 second quarter 2014 interim dividend of US$0.47 is US$0.05 per ordinary share and the dividend and tax credit together amount to US$0.52. The pounds sterling and euro equivalents will be announced on September 8, 2014.
