Scrip Scheme


At the Company's Annual General Meeting held in 2018, shareholders approved the Company’s scrip dividend scheme ("Scrip Scheme") for a period of three years in line with the guidelines of the Investment Association (IA). Shareholder approval is being sought at this year’s AGM on 13 May 2021 to renew the Scrip Scheme for a further three years. The Scrip Scheme provides shareholders with the opportunity to receive dividends as new ordinary shares instead of cash. This enables the Company to retain more cash for reinvestment into our business, which would otherwise be paid as cash dividends.

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.

Mandate Form

Guide to the Scrip Scheme


2020 Final Dividend

The Company announced its results for the year ended 31 December 2020 on 16 March 2021 and is proposing a final dividend of 12.75p per share (the "2020 Final Dividend"), which will be fully paid as a Property Income Distribution ("PID").

The 2020 Final Dividend will be paid in either cash or new ordinary shares under the Scrip Scheme on 21 May 2021 to shareholders on the register at the close of business on 16 April 2021. The timetable in relation to the 2020 Final Dividend is shown below:



16 March 2021

Announcement of 2020 Final Dividend

15 April 2021

Ex-dividend Date

16 April 2021

Record Date

15 April to 21 April 2021 (inclusive)

Scrip Reference Share Price calculation period

22 April 2021

Scrip Reference Share Price announcement

(1128.30 pence per share)

29 April 2021

Final day to elect to participate in the Scrip Scheme

21 May 2021

Dividend Payment Date


Historic Scrip Dividends

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



Ex-Div date

Record Date

Payment Date

PID (p)


Total (p)










Interim dividend period ended 30 June 2019

9 September 2019

20 September 2019

01 November 2019







Final dividend period ended 30 Dec 2018

11 April 2019

12 April 2019

17 May 2019





Interim dividend period ended 30 June 2018

20 Sep 2018

21 Sep 2018

2 Nov 2018






Final dividend period ended 30 Dec 2017

12 April 2018

13 April 2018

18 May 2018














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.