Find out about BP’s Scrip Dividend Programme
BP offers a Scrip Dividend Programme (the 'Programme') which enables BP’s 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 and ADS holders at the Annual General Meeting 2010.
We have recently 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 Programme Summary of Terms for ordinary shareholders and Summary of Terms for ADS holders can be downloaded below. These provide FAQs, information on tax and example calculations of scrip entitlements.
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 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, 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.
We are in the process of updating the Summary of Terms for ADS holders to reflect this and they will be available here shortly.
Joining the Programme
Please read the relevant terms and conditions above carefully before making any scrip dividend election decisions. For information on how to sign up to the Programme and FAQs please follow the relevant link below:
If you have any questions about the Programme that are not covered in these documents please contact Capita Registrars or JPMorgan Chase.
Tel: 0800 701107 (freephone in UK)
Tel: +44 (0)20 3170 3678 (outside UK)
JPMorgan Chase NA
Tel: 1-877-638-5672 (toll-free in the US and Canada)
Tel: 1-651-306-4383 (outside US and Canada)
Tel: 1-651-453-2133 (for the hearing impaired)