NewRiver REIT's Scrip Dividend Reference Price Announcement
NewRiver REIT plc has made a significant announcement regarding the reference price for its scrip dividend option, which is tied to its interim dividend. This dividend pertains to the six-month period ending on September 30, 2024.
Understanding the Scrip Dividend Option
The reference price has been set at 73.41 pence per ordinary share. Shareholders who choose this option will receive fully paid new shares instead of cash dividends. This decision fosters a deeper relationship between NewRiver and its investors, allowing for potential value growth through increased share ownership.
How the Reference Price is Determined
The price was determined from the average closing middle market quotations for NewRiver's shares listed on the London Stock Exchange. Specifically, it reflects the five business days following the ex-dividend date, which is slated for December 19, 2024. This method ensures that the price reflects the true market conditions leading up to the dividend.
Key Dates for Shareholders
Interest in the scrip dividend alternative requires prompt action from shareholders. They must make their election choice by January 7, 2025. The newly purchased ordinary share certificates will be dispatched on the expected dividend payment date of January 28, 2025. These dates are crucial for ensuring participation in the scrip dividend scheme.
Guidance for Shareholders
The scrip dividend scheme offers a valuable opportunity for shareholders to receive extra shares without incurring any dealing charges or stamp duty. This initiative was renewed at the company's Annual General Meeting, which took place on July 26, 2023, highlighting NewRiver’s commitment to providing its investors with flexible dividend options.
How to Participate in the Scrip Dividend Scheme
Shareholders wishing to participate can easily make their election through the dedicated website, www.signalshares.com. It’s crucial to understand that the election process varies depending on whether shares are held in certificated form or through the CREST system.
Seek Additional Information
NewRiver encourages all shareholders to familiarize themselves with the details outlined in the scrip dividend scheme booklet available on its website. Understanding the terms and conditions will help shareholders decide wisely about their participation and how it may enhance their investment in NewRiver.
Frequently Asked Questions
What is a scrip dividend?
A scrip dividend allows shareholders to choose receiving new shares instead of a cash dividend, potentially increasing their investment.
What is the reference price set by NewRiver?
The reference price for NewRiver's scrip dividend is set at 73.41 pence per share.
When is the deadline to elect for the scrip dividend?
Shareholders must elect for the scrip dividend by January 7, 2025.
When will the new shares be distributed?
New shares will be dispatched on the dividend payment date of January 28, 2025.
Where can I find more information about the scrip dividend?
Detailed information is available in the scrip dividend scheme booklet on NewRiver’s official website.
