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Dividend Declaration
Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE and Euronext Dublin share code: HMSO JSE share code: HMN
ISIN: GB00BK7YQK64
("Hammerson" or "the Company")
Dividend Declaration
25 July 2024
The Board of Directors of the Company has declared an interim dividend of 0.756 pence
per ordinary share ("Share") for the period ending 31 December 2024 (the "Interim 2024
Dividend"). The Interim 2024 Dividend is payable on Monday, 30 September 2024 to
shareholders on the register at the close of business on Friday, 23 August 2024.
The Interim 2024 Dividend will be paid as a Property Income Distribution ("PID"), net of
withholding tax where appropriate.
The Company will not be offering a scrip dividend alternative but, for shareholders who
wish to receive their dividend in the form of Shares, the Dividend Reinvestment Plan
("DRIP") will be available. The terms and conditions of the DRIP can be found at
www.signalshares.com. Shareholders registered on the South African Branch Register should
contact their CSDP or Broker for further information.
Expected Timetable of Events
The expected timetable for the payment of the Interim 2024 Dividend is set out below.
2024
1. Currency conversion date UK & SA Tuesday, 13 August
2. Currency conversion announcement UK & SA Wednesday, 14
released by 9.00 a.m. (UK Time) / 11.00 August
a.m. (SA time)
3. Last day to effect removal of shares UK & SA Tuesday, 20 August
between the United Kingdom ("UK") and
South African ("SA") Registers
4. Last day to trade on the JSE to qualify for SA Tuesday, 20 August
the dividend
5. Shares become "ex-dividend" on the JSE SA Wednesday, 21
at the commencement of trading August
6. Last day to trade on the LSE and on UK Wednesday, 21
Euronext Dublin to qualify for the August
dividend
7. Shares become "ex-dividend" on the LSE UK Thursday, 22 August
and on Euronext Dublin at the
commencement of trading
8. Record date UK & SA Friday, 23 August
9. Date on which removal of shares UK & SA Tuesday, 27 August
between the UK and SA registers
becomes permissible
10. Last day for receipt of DRIP mandates by Monday, 9 September
SA
SA Transfer Secretaries
11. Last day for receipt of DRIP elections by Monday, 9 September
UK
UK Registrars
12. Interim 2024 Dividend Payment Date UK & SA Monday, 30
September
13. DRIP purchases settlement date (subject UK Wednesday, 2
to market conditions and the purchase October
of shares in the open market)
14. DRIP purchases settlement date SA SA Monday, 14 October
(subject to market conditions and the
purchase of shares in the open market)
15. Results of Dividend Reinvestment Plan UK & SA Monday, 14 October
Announcement
Intention to cease future dividend payments by cheque
The Company intends to cease issuing cheques for dividend payments with effect from any
interim dividend declared in H2 2025.
Cheques will be issued for the Interim 2024 Dividend and for the final dividend for the year
ending 31 December 2024 (to the extent that a final dividend is recommended by the Board
and approved by Shareholders). All subsequent dividend payments will be paid
electronically by bank transfer only.
As part of this process, shareholders are required to register their bank account details with
the Company's Registrar, Link Group, either via the Signal Shares portal
(www.signalshares.com), or via one of the other methods as detailed under section 3 of the
Chequeless Dividend Q&A, available on the Company's website at
www.hammerson.com/investors/dividend.
Notes:
1. The removal of shares to and from the UK principal register and the SA branch register
will not be permitted between Wednesday, 21 August 2024 to Friday, 23 August 2024,
both dates inclusive.
2. Shareholders registered on the SA branch register should note that, in accordance
with the requirements of Strate, no dematerialisation or rematerialisation of shares will
be possible from Wednesday, 21 August 2024 to Friday, 23 August 2024, both dates
inclusive.
3. The Interim 2024 Dividend should be regarded as a 'foreign dividend' for SA income
tax and dividends tax purposes.
4. Shareholders registered on the SA branch register will be paid in SA Rand.
5. SA dividends tax, at the rate of 20% will apply to cash PIDs and dividends 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 SA, the maximum tax payable in the UK is 15%. South African
resident shareholders are therefore entitled to claim the excess of 5% from HM
Revenue and Customs ("HMRC"). As SA shareholders are entitled to reclaim this excess
from HMRC, the maximum rebate allowable in respect of the UK withholding tax
against the SA dividends tax is 15%, which means that the Company will have to
withhold a further 5% from the dividend in South Africa to bring the total dividends tax
to 20%. In summary, therefore, 20% will be withheld in the UK, a further 5% will be
withheld in SA (where appropriate), but South African resident shareholders will be
entitled to claim back 5% from HMRC, which will bring the overall total to 20%.
6. Those shareholders who hold their shares on the UK principal register and already
participate in the DRIP need not complete a DRIP mandate form for each dividend
as such forms provide an ongoing authority to participate in the DRIP until cancelled
in writing or online at www.signalshares.com. If you are unsure whether you have
submitted a DRIP election you can check your account online at:
www.signalshares.com. Alternatively, you can contact the UK Registrar, Link Group,
by email at shares@linkgroup.co.uk or by phone on 0371 664 0381 or +44 (0) 371 664
0381 from overseas. Calls are charged at the standard geographic rate and will vary
by provider. Calls from outside the UK will be charged at the applicable international
rate. Lines are open between 9:00 am and 5:30 pm, Monday to Friday excluding
public holidays in England and Wales.
7. Shareholders on the UK principal register who wish to participate in the DRIP should
complete an application form online at: www.signalshares.com.
8. Shareholders registered on the SA branch register who hold their shares through the
Strate system and who wish to participate in the DRIP should contact their CSDP or
Broker.
9. As at Wednesday, 24 July 2024, being the declaration date of the Interim 2024
Dividend, the Company had a total of 5,002,265,607 ordinary shares in issue, with
13,008,260 of those ordinary shares held in Treasury.
10. The dates above are subject to change. Any changes made will be communicated
as soon as practicably possible.
11. The Board retains the discretion to withdraw or modify the terms of the Interim 2024
Dividend at any time, because there are certain situations in which the Board may
decide that it is no longer appropriate to pay the Interim 2024 Dividend, or it may not
be permissible for the Company to do so.
12. If the proposed share consolidation (referred to in the Company's announcement on
22 July 2024) is implemented before the Interim 2024 Dividend is payable on Monday
30 September 2024, the amount per ordinary share of the 2024 Interim Dividend will
be adjusted proportionately (subject to adjustments for fractional entitlements) to
reflect the reduced number of ordinary shares in issue following the share
consolidation.
For further information contact:
Richard Crowle
Senior Assistant Company Secretary
Tel: +44 (0)20 7887 1000
Hammerson has its primary listing on the London Stock Exchange and secondary inward
listings on the Johannesburg Stock Exchange and Euronext Dublin.
Sponsor: Investec Bank Limited
Date: 25-07-2024 08:01:00
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