Recently, an increasing number of companies in the United Kingdom have given their shareholders the option to receive shares, called scrip dividends
, in lieu of cash.
"At last year's AGM, shareholders requested that the board should consider another scrip dividend
, which we have now granted."
A cash dividend of 20 per cent of paid up capital amounting to AED 199.3 million and a scrip dividend
of 10 per cent of paid up capital amounting to AED 99.6 million are proposed by the directors for approval by the Bank's shareholders, subject to the prior approval of the Central Bank.
Shareholders will get a total dividend of 27p per share, up from 25p, with an enhanced scrip dividend
of 19.5p as an alternative to a final 18p dividend.
Under the two-year scrip dividend
programme ("Scrip Dividend
Programme") approved by the Annual General meeting 11 May 2017, shareholders will have the option to receive dividend in newly issued dividend shares.
Energy company Royal Dutch Shell plc (NYSE:RDS-A) (NYSE:RDS-B) reported on Monday the issuance of 47,791,678 A ordinary shares of EUR0.07 each in relation to the scrip dividend
programme for the Q4 2016 interim dividend.
The dividend is payable in cash in United States dollars, sterling or Hong Kong dollars, or a combination of these three currencies, with a scrip dividend
Shell's (AA-) Outlook remains Negative, largely due to relatively high debt, following its acquisition of BG, coupled with the cancellation of the scrip dividend
at end-2017 and the announced share buy-back for at least USD25 billion in 2017-20.
Cash dividend (net of any costs of newly issued dividend shares elected under the Scrip Dividend
Programme) will be paid to shareholders on Oslo Brs on or around 22 September 2017 and to holders of American Depositary Receipts ("ADRs") on New York Stock Exchange on or around 25 September 2017.
Energy company Statoil (OSE:STL) (NYSE:STO) stated on Wednesday that its shares in the Oslo Bors (Oslo Stock Exchange) will be traded ex dividend USD0.2201 and ex rights to participate in the dividend issue (scrip dividend
programme) for the third quarter 2016.
Shareholders who elected to receive the scrip dividend
alternative have been allotted 78,809,402 ordinary shares of USD0.50.
TBC PLC shareholders also passed a resolution at the AGM that authorised TBC PLC's board of directors to offer a scrip dividend
alternative in respect of the Final Dividend (the "Scrip Dividend