LONDON - SSE (LON:SSE) plc has announced the reference price for its scrip dividend scheme, related to the interim dividend for the fiscal year ending March 31, 2025. Shareholders who opt for the scrip dividend alternative will receive new fully paid ordinary shares priced at 1,611 pence each, payable on February 27, 2025.
The reference price was determined using the average mid-market closing price over five business days following the ex-dividend date, which ranged from January 2 to January 8, 2025. Should all eligible shareholders as of the record date on January 3, 2025, choose to receive the scrip dividend, SSE would issue a maximum of 14,521,560 shares. This would represent around 1.3% of the company's issued share capital, excluding treasury shares, as of the record date.
The final number of shares to be issued will be confirmed after January 31, 2025, which is the deadline for shareholders to submit their elections to participate in the scheme. Shareholders must communicate with Computershare Investor Services PLC to join or withdraw from the scrip dividend scheme by this date. Those holding shares in uncertificated form are advised to consult their Crest sponsors accordingly.
This scrip dividend initiative is part of SSE's interim dividend for the financial year that will conclude on March 31, 2025. The ex-dividend date was January 2, 2025, and the record date was set for the following day. Shareholders have until the end of January to make their election, with the dividend payment and issue of scrip shares scheduled for late February.
The information provided in this article is based on a press release statement and has been issued through RNS, the news service of the London Stock Exchange (LON:LSEG), which is authorized by the Financial Conduct Authority in the UK.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.