Shell introduces option to receive dividend in US dollars
Royal Dutch Shell plc (“Shell”) today announces that it will introduce the option for shareholders to receive Shell’s dividends in US dollars with effect from the fourth quarter 2019 interim dividend.
Furthermore, Shell will settle its dividend with its shareholders fully electronically either in CREST or via interbank transfers.
Introduction of US dollar as additional currency election
From the fourth quarter 2019 interim dividend, shareholders can elect to receive their dividend in US dollar.
Shareholders are reminded that dividends on A and B shares will be paid in euro and pound sterling respectively, unless shareholders elect to receive an alternative currency. With the addition of US dollar, shareholders of A and B shares will be able to receive their dividends in euro, pound sterling and or US dollar. Dividends on American Depository Shares continue to be paid in USD.
Full electronic settlement of dividends
From the fourth quarter 2019 interim dividend payment, shareholders that hold their shares in dematerialised form, will receive their dividends primarily in CREST. These shareholders will need to ensure that Euroclear UK and Ireland has set their dividend mandate flag accordingly. Furthermore, in order to receive dividends across the three available currencies, euro, pounds sterling and US dollars, these shareholders should provide CREST Memorandum Accounts for each of these three currencies.
Alternatively, shareholders who do not opt to receive dividends in CREST, should provide their euro, pounds sterling and US dollars bank account details to Shell’s Registrar, Equiniti Limited. Shell’s Registrar, Equiniti Limited, will shortly approach all shareholders holding their shares in dematerialised form in CREST with further detail.
From the first quarter 2020 interim dividend, shareholders that hold their shares in certificated form and all participants in Shell’s Corporate Sponsored Nominee (“CSN”) will receive their dividends fully electronically. Certificate holders and CSN participants that have not yet provided their bank account details, will shortly receive a letter with further detail, alongside their third quarter 2019 interim dividend cheques.
Source / More : shell.com
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