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British American Tobacco p.l.c. (the "Company")
Quarterly Dividends for the year ended 31 December 2018:
Payment No. 4 - February 2020 (the "February 2020 Dividend")
South Africa Branch Register Finalisation Information
On 28 February 2019, the Company announced that the Board had declared an interim dividend of 203.0p per ordinary share of 25p, payable in four equal quarterly instalments of 50.75p per ordinary share in May 2019, August 2019, November 2019 and February 2020.
The February 2020 Dividend will be payable on 6 February 2020 to shareholders registered on either the UK main register or the South Africa branch register on 27 December 2019 (the record date).
In accordance with the JSE Limited ("JSE") Listing Requirements, the finalisation information for the February 2020 Dividend relating to shareholders registered on the South Africa branch register is set out in the paragraphs below.
The salient dates and other dividend declaration information announced on 28 February 2019 remain unchanged for the February 2020 Dividend.
South Africa Branch Register: Dividend Rate
The British American Tobacco Group reports in sterling, therefore dividends are declared and payable in sterling except for shareholders on the branch register in South Africa whose dividends are payable in rand. A rate of exchange of £:R 19.53720 as at 10 December 2019 (the closing rate on that date as quoted by Bloomberg), results in an equivalent February 2020 Dividend of 991.51290 SA cents per ordinary share.
South Africa Branch Register: Dividends Tax Information
South Africa Dividends Tax (at a rate of 20%), equivalent to 198.30258 SA cents per ordinary share, will be withheld from the gross February 2020 Dividend paid to shareholders on the South Africa branch register, unless a shareholder qualifies for an exemption. After Dividends Tax has been withheld, the net dividend will be 793.21032 SA cents per ordinary share. The February 2020 Dividend is regarded as a 'foreign dividend' for the purposes of the South Africa Dividends Tax. For the purposes of South Africa Dividends Tax reporting, the source of income for the payment of the February 2020 Dividend is the United Kingdom.
At the close of business on 10 December 2019 (the latest practicable date prior to the date of the declaration of the South African rand equivalent of the February 2020 Dividend), the Company had a total of 2,293,867,380 ordinary shares in issue (excluding treasury shares). The Company held 162,645,590 ordinary shares in treasury giving a total issued share capital of 2,456,512,970 ordinary shares.
British American Tobacco p.l.c. is registered with the South African Revenue Service (SARS) with tax reference number 9378193172.
For the avoidance of doubt, Dividends Tax and the information provided above is of only direct application to shareholders on the South Africa branch register. Shareholders on the South Africa branch register should direct any questions regarding the application of Dividends Tax to Computershare Investor Services Proprietary Limited, contact details for which are given below:
Computershare Investor Services Proprietary Limited
PO Box 61051, Marshalltown 2107, South Africa
tel: 0861 100 634; +27 11 870 8216
email enquiries: email@example.com
Name of duly authorised officer of issuer responsible for making notification:
British American Tobacco p.l.c.
12 December 2019
Mike Nightingale/Rachael Brierley/John Harney
+44 20 7845 1180/1519/1263
British American Tobacco Press Office
+44 (0) 20 7845 2888 (24 hours) | @BATPress
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