THE HAGUE, Netherlands,
May 4, 2017 /PRNewswire/ --
The Board of Royal Dutch Shell plc ("RDS") today announced an
interim dividend in respect of the first quarter of 2017 of
US$0.47 per A ordinary share ("A
Share") and B ordinary share ("B Share"), equal to the US dollar
dividend for the same quarter last year.
RDS provides eligible shareholders with a choice to receive
dividends in cash or in shares via a Scrip Dividend Programme ("the
Programme"). For further details please see below.
Details relating to the first quarter 2017 interim
dividend
It is expected that cash dividends on the B Shares will be paid
via the Dividend Access Mechanism from UK-sourced income of the
Shell group.
Per ordinary share Q1
2017
RDS A Shares (US$)
0.47
RDS B Shares (US$)
0.47
Cash dividends on A Shares will be paid, by default, in euro,
although holders of A Shares will be able to elect to receive
dividends in pounds sterling.
Cash dividends on B Shares will be paid, by default, in pounds
sterling, although holders of B Shares will be able to elect to
receive dividends in euro.
The pounds sterling and euro equivalent dividend payments will
be announced on June 12, 2017.
Per ADS
Q1 2017
RDS A ADSs (US$)
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.
Scrip Dividend Programme
RDS provides shareholders with a choice to receive dividends in
cash or in shares via the Programme.
Under the Programme shareholders can increase their shareholding
in RDS by choosing to receive new shares instead of cash dividends,
if approved by the Board. Only new A Shares will be issued under
the Programme, including to shareholders who currently hold B
Shares.
In some countries, joining the Programme may currently offer a
tax advantage compared with receiving cash dividends. In
particular, dividends paid out as shares by the Company will not be
subject to Dutch dividend withholding tax (currently 15 per cent),
unlike cash dividends paid on A shares, and they will not generally
be taxed on receipt by a UK shareholder or a Dutch shareholder.
Shareholders who elect to join the Programme will increase the
number of shares held in RDS without having to buy existing shares
in the market, thereby avoiding associated dealing costs.
Shareholders who do not join the Programme will continue to
receive in cash any dividends approved by the Board.
Shareholders who held only B Shares and joined the Programme are
reminded they will need to make a Scrip Dividend Election in
respect of their new A Shares if they wish to join the Programme in
respect of such new shares. However, this is only necessary
if the shareholder has not previously made a Scrip Dividend
Election in respect of any new A Shares issued.
For further information on the Programme, including how to join
if you are eligible, please refer to the appropriate publication
available on http://www.shell.com/scrip.
Dividend timetable for the first quarter 2017 interim
dividend
Announcement date
May 4, 2017
Ex-dividend date RDS A and RDS B ADSs
May 17, 2017
Ex-dividend date RDS A and RDS B
shares May
18, 2017
Record date
May 19, 2017
Scrip reference share price announcement
date
May 25, 2017
Closing of scrip election and currency election
(See Note) June 5,
2017
Pounds sterling and euro equivalents announcement
date June
12, 2017
Payment date
June 26, 2017
Note
Both a different scrip and currency election date may apply to
shareholders holding shares in a securities account with a bank or
financial institution ultimately holding through Euroclear
Nederland. This may also apply to other shareholders who do not
hold their shares either directly on the Register of Members or in
the corporate sponsored nominee arrangement. Shareholders can
contact their broker, financial intermediary, bank or financial
institution for the election deadline that applies. A different
scrip election date may apply to registered and non-registered ADS
holders. Registered ADS holders can contact The Bank of New York
Mellon for the election deadline that applies. Non-registered ADS
holders can contact their broker, financial intermediary, bank or
financial institution for the election deadline that applies.
Taxation - cash dividends
Cash dividends on A Shares will be subject to the deduction of
Dutch dividend withholding tax at the rate of 15%, which may be
reduced in certain circumstances. Based on a policy statement
issued by the Dutch Ministry of Finance on April 29, 2016 (which has been formalised in law
with effect from January 2017), and
depending on their particular circumstances, non-Dutch resident
shareholders may be entitled to a full or partial refund of Dutch
dividend withholding tax. As from 2018, Dutch and non-Dutch
resident shareholders who are exempt from corporate income tax may
elect for an exemption from Dutch dividend withholding tax instead
of requesting a refund if tax was withheld.
Furthermore, in April 2016, there
were changes to the UK taxation of dividends. The dividend tax
credit was abolished, and a new tax free dividend allowance
introduced. Dividend income in excess of the allowance is taxable
at the following rates: 7.5% within the basic rate band; 32.5%
within the higher rate band; and 38.1% on dividend income taxable
at the additional rate.
If you are uncertain as to the tax treatment of any dividends
you should consult your own tax advisor.
CAUTIONARY NOTE
The companies in which Royal Dutch
Shell plc directly and indirectly owns investments are
separate legal entities. In this announcement “Shell”, “Shell
group” and “Royal Dutch Shell” are sometimes used for convenience
where references are made to Royal Dutch
Shell plc and its subsidiaries in general. Likewise, the
words “we”, “us” and “our” are also used to refer to subsidiaries
in general or to those who work for them. These expressions are
also used where no useful purpose is served by identifying the
particular company or companies. ‘‘Subsidiaries’’, “Shell
subsidiaries” and “Shell companies” as used in this announcement
refer to companies over which Royal Dutch
Shell plc either directly or indirectly has control.
Entities and unincorporated arrangements over which Shell has joint
control are generally referred to as “joint ventures” and “joint
operations” respectively. Entities over which Shell has significant
influence but neither control nor joint control are referred to as
“associates”. The term “Shell interest” is used for convenience to
indicate the direct and/or indirect ownership interest held by
Shell in a venture, partnership or company, after exclusion of all
third-party interest.
This announcement contains forward-looking statements concerning
the financial condition, results of operations and businesses of
Royal Dutch Shell. All statements
other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management’s
current expectations and assumptions and involve known and unknown
risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of
Royal Dutch Shell to market risks
and statements expressing management’s expectations, beliefs,
estimates, forecasts, projections and assumptions. These
forward-looking statements are identified by their use of terms and
phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’,
‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’,
‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’,
‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’
and similar terms and phrases. There are a number of factors that
could affect the future operations of Royal
Dutch Shell and could cause those results to differ
materially from those expressed in the forward-looking statements
included in this announcement, including (without limitation): (a)
price fluctuations in crude oil and natural gas; (b) changes in
demand for Shell’s products; (c) currency fluctuations; (d)
drilling and production results; (e) reserves estimates; (f) loss
of market share and industry competition; (g) environmental and
physical risks; (h) risks associated with the identification of
suitable potential acquisition properties and targets, and
successful negotiation and completion of such transactions; (i) the
risk of doing business in developing countries and countries
subject to international sanctions; (j) legislative, fiscal and
regulatory developments including regulatory measures addressing
climate change; (k) economic and financial market conditions in
various countries and regions; (l) political risks, including the
risks of expropriation and renegotiation of the terms of contracts
with governmental entities, delays or advancements in the approval
of projects and delays in the reimbursement for shared costs; and
(m) changes in trading conditions. No assurance is provided that
future dividend payments will match or exceed previous dividend
payments. All forward-looking statements contained in this
announcement are expressly qualified in their entirety by the
cautionary statements contained or referred to in this section.
Readers should not place undue reliance on forward-looking
statements. Additional risk factors that may affect future results
are contained in Royal Dutch Shell’s Form 20-F for the year ended
December 31, 2016 (available at www.shell.com/investor and
www.sec.gov). These risk factors also expressly qualify all
forward-looking statements contained in this announcement and
should be considered by the reader. Each forward-looking statement
speaks only as of the date of this announcement, May 4, 2017.
Neither Royal Dutch Shell plc nor any of its subsidiaries undertake
any obligation to publicly update or revise any forward-looking
statement as a result of new information, future events or other
information. In light of these risks, results could differ
materially from those stated, implied or inferred from the
forward-looking statements contained in this announcement.
This Report contains references to Shell’s website. These
references are for the readers’ convenience only. Shell is not
incorporating by reference any information posted on
www.shell.com
U.S. investors are urged to consider closely the disclosure in our
Form 20-F, File No 1-32575, available on the SEC website
www.sec.gov . You can also obtain this form from the SEC by calling
1-800-SEC-0330.
- LEI number of Royal Dutch Shell
plc: 21380068P1DRHMJ8KU70
- Classification: Additional regulated information required to be
disclosed under the laws of a Member State
Contacts:
- Investor Relations:
Europe
+31-(0)-70-377-4540;
North America
+1-832-337-2034
- Media:
International
+44-(0)-207-934-5550
Americas
+1-713-241-4544
SOURCE Royal Dutch Shell plc