Scrip Scheme

At the Company's Annual General Meeting held in May 2018, shareholders approved the implementation of a Scrip Dividend Scheme ("Scrip Scheme"). The Scrip Scheme provides shareholders with the opportunity to receive dividends as new ordinary shares instead of cash. This enables us to retain more cash for reinvestment into our business, which would otherwise be paid as cash dividends.

The Scrip Scheme Circular, the Mandate Form and the Guide to the Scrip Scheme, accessible through the links below, provide information on the Scrip Scheme and how to participate.

Scrip Scheme Circular

Mandate Form

Guide to the Scrip Scheme


2018 Final Dividend

The Company announced its results for the year ended 31 December 2018 on 27 February 2019 and declared a final dividend of 19.5p per share (the "2018 Final Dividend"), 16.0 pence of which will be paid as a Property Income Distribution ("PID") and the remaining 3.5 pence as Non Property Income Distribution (“Non-PID”).

The 2018 Final Dividend will be paid in either cash or new ordinary shares on PID under the Scrip Scheme and in cash for non-PID on 17 May 2019 to shareholders on the register at the close of business on 12 April 2019. The timetable in relation to the 2018 Final Dividend is shown below:

Date Event
27/02/2019 Announcement of 2018 Final Dividend
11/04/2019 Ex-dividend Date
12/04/2019 Record Date
11/04/2019 to 17/04/2019 (inclusive) Scrip Reference Share Price calculation period
18/04/2019 Scrip Reference Share Price announcement [928.30 pence]
25/04/2019 Final day to elect to participate in the Scrip Scheme
17/05/2019 Dividend payment date


Historic Scrip Dividends

The table below gives details of past dividends on which the Scrip Scheme was offered:

Dividend Ex-Div Date Record Date Payment Date PID (p)

Non-PID (p)

Total (p)
Interim dividend period ended 30 June 2018 20/09/2018 21/09/2018 2/11/2018 6.5 3 9.5
Final dividend period ended 30 Dec 2017 12/04/2018 13/04/2018 18/05/2018 15.4 - 15.4










If you have any questions about the Scrip Scheme then please contact the Company’s Registrar, Computershare Investor Services plc, on +44 0370 707 1376. The helpline is open between 8.00 a.m. and 6.30 p.m. (GMT), Monday to Friday excluding public holidays in England and Wales.