The Board of Royal Dutch Shell plc (“RDS”) has announced on Monday June 8 the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2020 interim dividend, which was announced on April 30, 2020 at US$0.16 per A ordinary share (“A Share”) and B ordinary share (“B Share”).
Dividends on A Shares will be paid, by default, in euros at the rate of €0.1420 per A Share, according to the Oil giant.
Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by June 2, 2020 will be entitled to a dividend of US$0.16 or 12.68p per A Share, respectively.
Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 12.68p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by June 2, 2020 will be entitled to a dividend of US$0.16 or €0.1420 per B Share, respectively.
Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from 3 to 5 June 2020.
This dividend will be payable on June 22, 2020 to those members whose names were on the Register of Members on May 15, 2020.
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. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax.
“If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor,” she said.