BP offers a scrip dividend programme which enables ordinary shareholders and ADS holders to elect to receive new fully paid shares or ADSs instead of a cash dividend. The programme was approved by shareholders at the 2010 Annual General Meeting and this approval was renewed at the 2015 Annual General Meeting. In April 2015, we updated the terms and conditions of the scrip dividend programme to reflect current tax information and procedural references. The changes we are making do not affect the way the scrip dividend programme currently works and no action is required by shareholders. The updated full terms and conditions of the scrip dividend programme, summary of terms for ordinary shareholders and summary of terms for ADS holders can be downloaded below. These provide information on tax and example calculations of scrip entitlements. Please ensure that you read the applicable terms and conditions prior to making a scrip dividend election decision.
ADS holders: Important note regarding stamp duty reserve tax
The Reference ADS Price is calculated by multiplying the reference share price by six (as there are six ordinary shares underlying each ADS) and adjusting for the fee payable to the Depositary under the ADS Deposit Agreement ($0.05 per ADS). Prior to the 2012 first quarter 2012 dividend payment , stamp duty reserve tax ('SDRT') of 1.5% was deducted from this calculation, but following a recent tax tribunal decision in 2012, HM Revenue & Customs will no longer seek to impose 1.5% SDRT on issues of UK shares and securities to non-EU clearance services and depositary receipt systems.
Find out more about BP's scrip dividend programme
For information on how to sign up to the programme and for additional FAQs, please see the below downloadable documents