I expect both these variables to be positively related to the probability of issuing a scrip dividend
if this option is motivated by tax considerations.
The shares are to be issued as a scrip dividend
alternative to receiving a cash dividend in respect of the third quarter 2017 interim dividend and dealings are expected to commence on 20 December 2017.
On a constant currency basis, net debt at the end of June will be lower than previous guidance as a result of the disposal proceeds and the scrip dividend
The board of directors proposed a cash dividend of 10 per cent of the paid-up capital along with a scrip dividend
of 20 per cent, subject to the approval of the UAE central bank and general assembly of the bank.
Accordingly, the Directors propose that a cash dividend of 10 per cent of the Paid up Capital is paid in 2015 amounting to AED 114.6 million, along with a scrip dividend
of 20 per cent of the Paid up Capital amounting to AED 229.2 million, subject to the approval of the UAE Central Bank and the General Assembly.
Recipients of this dividend may receive the funds in cash in US dollars, sterling or Hong Kong dollars, or a combination of these currencies, and with a scrip dividend
HSBC Holdings plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005) has said that it has issued 64.7m ordinary shares of USD0.50 each to shareholders who elected to receive the scrip dividend
alternative for the second interim dividend for 2009.
The scrip dividend
offer helps to save Newcastle United cash.
Although three-quarters of people knew what a dividend was, only 11 per cent knew that a scrip dividend
enabled an investor to take the dividend as new shares rather than cash.
The shares are for shareholders who are participants in the company's Scrip Dividend
Programme in respect of a dividend for the year ending 31 December 2014 and is payable on 23 June 2014.
Wendel, which has been a Saint-Gobain shareholder for over six years, said it would remain the building materials company's largest investor after this sale, holding 12% of its capital and 20% of its votes, which, given the upcoming dilution related to the payment of the scrip dividend
and to the employee savings plan, it expects to stabilise at some 11.5% of the shares and 19% of the votes.