Dividends are paid to shareholders on the Register of Members on the record date for the dividend. An interim dividend is normally declared by the Board of Directors in August of each year and is generally paid in October/November. A final dividend is normally recommended by the Board of Directors following the end of the fiscal year to which it relates and, if approved by the shareholders at an AGM, is generally paid in April/May of that year.
The payment of future cash dividends will be dependent upon future earnings, the financial condition of the Group and other factors.
Dividends in respect of 7% ‘A’ Cumulative Preference Shares are paid half-yearly on 5 April and 5 October. Dividends in respect of 5% Cumulative Preference Shares are paid half-yearly on 15 April and 15 October.
Dividend Withholding Tax
Dividend Withholding Tax (DWT) (currently 25%) must be deducted from dividends paid by an Irish resident company, unless a shareholder is entitled to an exemption and has submitted a properly completed exemption form to the Company’s Registrars, Computershare Investor Services (Ireland) Limited. Investors who hold their interests in the Company’s shares through Euroclear Bank or as CDI, and who are entitled to a DWT exemption, should refer to the Euroclear Bank Service Description or the CREST International Manual respectively or to the broker or custodian through whom they hold their shares in order to arrange for their dividends to be exempted.
Further details on DWT exemptions and all relevant forms can be obtained from the Irish Revenue Commissioners’ website - www.revenue.ie.