The Company’s registrar is Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.
Since 2016 Primary Health Properties pays dividends quarterly, on expected payment dates in February, May, August and November each year.
All dividend payments are made as interim dividends. This enables the fourth dividend payment to be made approximately two months earlier than would be the case if that dividend were categorised as a "final dividend" and therefore subject to Shareholder resolution at the annual general meeting. The arrangement is made in the interests of shareholders, enabling them to benefit from the earlier receipt of the fourth dividend.
Distributions from the Company may comprise Property Income Distribution ("PID"), ordinary cash dividends ("non-PID") or a combination of the two.
The optional Scrip Dividend Scheme enables shareholders to receive new Ordinary Shares in PHP instead of cash dividends without incurring dealing costs, stamp duty or stamp duty reserve tax by electing to take a scrip dividend instead of a cash dividend.
Past dividend payments
Covering the highlighted financial year.
| Dividend | Ex-div date | Payment date | Scrip offered | PID element | Non-PID element | Total |
|---|---|---|---|---|---|---|
| First quarterly | 09 January 2020 | 21 February 2020 | Yes | 1.275p | 0.2p | 1.475p |
| Second quarterly | 02 April 2020 | 22 May 2020 | Yes | 1.275p | 0.2p | 1.475p |
| Third quarterly | 02 July 2020 | 21 August 2020 | Yes | 1.275p | 0.2p | 1.475p |
| Fourth quarterly | 08 October 2020 | 20 November 2020 | Yes | 1.0p | 0.475p | 1.475p |
| Dividend | Ex-div date | Payment date | Scrip offered | PID element | Non-PID element | Total |
|---|---|---|---|---|---|---|
| First quarterly | 11 January 2019 | 22 February 2019 | Yes | 0.75p | 0.65p | 1.4p |
| Second quarterly | 04 April 2019 | 24 May 2019 | Yes | 0.65p | 0.75p | 1.4p |
| Third quarterly | 11 July 2019 | 23 August 2019 | Yes | 0.65p | 0.75p | 1.4p |
| Fourth quarterly | 10 October 2019 | 22 November 2019 | Yes | 0.50p | 0.90p | 1.4p |
| Dividend | Ex-div date | Payment date | Scrip offered | PID element | Non-PID element | Total |
|---|---|---|---|---|---|---|
| First quarterly | 11 January 2018 | 23 February 2018 | Yes | 0.85p | 0.50p | 1.35p |
| Second quarterly | 5 April 2018 | 25 May 2018 | Yes | 0.85p | 0.50p | 1.35p |
| Third quarterly | 12 July 2018 | 24 August 2018 | Yes | 0.85p | 0.50p | 1.35p |
| Fourth quarterly | 11 October 2018 | 23 November 2018 | Yes | 0.75p | 0.60p | 1.35p |
| Dividend | Ex-div date | Payment date | Scrip offered | PID element | Non-PID element | Total |
|---|---|---|---|---|---|---|
| Fourth quarterly | 12 October 2017 | 24 November 2017 | Yes | 0.52p | 0.80p | 1.32p |
| Third quarterly | 13 July 2017 | 25 August 2017 | Yes | 0.76p | 0.55p | 1.31p |
| Second quarterly | 06 April 2017 | 26 May 2017 | Yes | - | 1.31p | 1.31p |
| First quarterly | 12 January 2017 | 24 February 2017 | Yes | - | 1.31p | 1.31p |
| Dividend | Ex-div date | Payment date | Scrip offered | PID element | Non-PID element | Total |
|---|---|---|---|---|---|---|
| Fourth quarterly | 13 October 2016 | 25 November 2016 | Yes | - | 1.28125p | 1.28125p |
| Third quarterly | 14 July 2016 | 26 August 2016 | Yes | - | 1.28125p | 1.28125p |
| Second quarterly | 7 April 2016 | 27 May 2016 | Yes | - | 1.28125p | 1.28125p |
| First quarterly | 4 January 2016 | 26 February 2016 | Yes | - | 1.28125p | 1.28125p |
| Dividend | Ex-div date | Payment date | Scrip offered | PID element | Non-PID element | Total |
|---|---|---|---|---|---|---|
| Second interim | 17 September 2015 | 30 October 2015 | Yes | - | 2.5p* | 2.5p* |
| First interim | 1 April 2015 | - | - | 2.5p* | 2.5p* |
*Adjusted for split of each ordinary share of 50p into 4 ordinary shares of 12.5p
Full Year 2014
| 7 November 2014 | Second interim | 2.4375p* |
| 22 April 2014 | First interim | 2.4375p* |
*Adjusted for split of each ordinary share of 50p into 4 ordinary shares of 12.5p
Full year 2013
| 1 November 2013 | Second interim | 2.375p* |
| 22 April 2013 | First interim | 2.375p* |
*Adjusted for split of each ordinary share of 50p into 4 ordinary shares of 12.5p
Full year 2012
| 26 October 2012 | Second interim | 2.3125p* |
| 5 April 2012 | First interim | 2.3125p* |
*Adjusted for split of each ordinary share of 50p into 4 ordinary shares of 12.5p
Scrip Dividend Scheme
The optional Scrip Dividend Scheme enables Shareholders to receive new Ordinary Shares in PHP instead of cash dividends without incurring dealing costs, stamp duty or stamp duty reserve tax by electing to take a scrip dividend instead of a cash dividend. Shareholders can obtain information about the Scrip Dividend Scheme from the Company or the Registrar.
Shareholders holding shares in certified form can elect to join the Scheme by completing the Scrip Dividend Mandate Form (PDF 200 KB) and returning it to our registrars, Equniti Limited. Shareholders holding shares in uncertified form can elect to join the Scheme by submitting a CREST Dividend Election Input Message in accordance with the CREST Manual.
Detailed information on the Scheme and how to join are available in the Scrip Dividend Scheme booklet.
Scrip Dividend Scheme Booklet - PDF 54 KB
Scrip Dividend Mandate Form - PDF 200 KB
Details of the deadline for receipt of Scrip Mandates and the dates on which the Scrip calculation price will be set will be announced via the Regulatory News section of the website in a Dividend Declaration announcement. The Scrip Calculation Price will be announced via Regulatory News on the business day following the price setting period.
The Company has made arrangements for Equiniti Financial Services Limited to provide an Investment Account to allow lump sum and regular savings to facilitate the purchase the Company's Ordinary Shares. Detail and the forms required for this Service can be accessed from the Company’s website or alternatively at: www.shareview.co.uk/dealing. For details of the service please contact: Equiniti, PO Box 4605, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA Shareholder helpline: 0345 300 0430. Equiniti Financial Services Limited is authorised and regulated by the Financial Conduct Authority. As with all stock market investments, the price of shares can go down as well as up and on sale investors may not get back the full amount they invested.
The REIT Regulations require a REIT to distribute at least 90% of its exempt rental income (as calculated for tax purposes) as a PID. PIDs are paid out under deduction of withholding tax at the basic rate, currently 20%. Certain classes of shareholders, including UK companies, charities, local authorities and UK pension schemes may receive PIDs without deduction of withholding tax, if a valid claim is lodge with the Company by a qualifying shareholder. Shareholders who wish to apply for a tax exemption form should contact the Registrar. The above is a general guide only and shareholders who have any doubt about their tax position should consult their own appropriate independent professional adviser.
REITs, Dividends and UK Tax
The Real Estate Investment Trust (“REIT”) Regulations require a REIT to distribute at least 90% of its exempt rental income (as calculated for tax purposes) as a Property Income Distribution (“PID”).
PIDs are paid out under deduction of income tax at the basic rate, currently 20%. Certain classes of shareholders, including UK companies, charities, local authorities and UK pension schemes may receive PIDs without deduction of withholding tax, if a valid claim is lodged with the Company by a qualifying shareholder. Shareholders who qualify to receive PIDs without the deduction of withholding tax should complete one of the attached forms depending on whether or not you are the beneficial owner of your shareholding or an intermediary. The completed form should be sent to the Company Registrars:
Equiniti
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA
Withholding tax exemption claim forms
Beneficial Owner Declaration of Eligibility for Gross PID Payments from UK REIT - PDF 182 KB
Intermediary Declaration of Eligibility for Gross PID Payments from UK REIT - PDF 182 KB
The content of this section is a general guide only and shareholders who have any doubt about their tax position should consult their own appropriate independent tax adviser.
Dividends paid by REITs: PID/Non-PID
The Company is a REIT. As a result it does not pay UK direct taxes on income profits and capital gains from its property and rental business (“Tax Exempt Business”), provided certain conditions are satisfied. Instead, the Company is required to distribute to Shareholders at least 90% of the income profits of the tax Exempt Business (as determined by the legislation) arising each accounting period. This obligation is fulfilled by way of a PID, which can be distributed in cash or as New Shares and (with some exceptions) will in either case be subject to withholding tax.
Corporation Tax is payable in the normal way in respect of profits and gains from other parts of the Company’s business (the “Residual Business”) and a dividend relating to the Residual Business (as determined by the legislation), or non-PID is treated for UK tax purposes as a normal dividend (whether in cash or New Shares).
The following paragraphs outline the main aspects of the tax treatment of PIDs and Non-PIDs in the hands of a UK tax resident Shareholder.
The Company’s registrar is Equiniti. In the event of any queries regarding your holding of shares, please contact the registrars free of charge on 0371 384 2030 (lines are open 8.30am to 5.30pm Monday to Friday), or in writing to: Equiniti, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA. Changes of name or address must be notified to the registrars in writing.
A quick and easy share dealing service is available to either sell or buy more PHP shares. To deal online or by telephone all you need is your shareholder reference number, full postcode and your date of birth. Your shareholder reference number can be found on your latest dividend statement. For further information on this service, or to buy and sell shares, please contact Equiniti customer services 0845 300 0430 (8.00am – 6.00pm Monday to Friday) or access www.shareview.co.uk/dealing.