The Board of Shell plc (“Shell”) today announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2022 interim dividend, which was announced on May 5, 2022 at US$0.25 per ordinary share.
Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling currency elections by June 7, 2022, will be entitled to a dividend of US$0.25, €0.2346 or 20.01p per ordinary share, respectively.
Absent any valid election to the contrary, persons holding their ordinary shares through Euroclear Nederland will receive their dividends in euros at the euro rate per ordinary share shown above. Absent any valid election to the contrary, shareholders (both holding in certificated and uncertificated form (CREST members)) and persons holding their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling, at the pound sterling rate per ordinary share shown above.
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 June 8 to June 10, 2022.
This dividend will be payable on June 27, 2022 to those members whose names were on the Register of Members on May 20, 2022.
Taxation – cash dividend
With Shell’s tax residence moved to the UK, dividends paid to shareholders on their ordinary shares will not attract Dutch dividend withholding tax. This means that holders of the former A shares receive their dividends in full as Dutch dividend withholding tax is no longer withheld on these dividends. Holders of the former B shares receive their dividends directly from Shell as these dividends will no longer be paid through the Dividend Access Mechanism.
Olusola Bello
