Financial Statements
20Dividend
The proposed fourth interim dividend of 6.5 pence per share, totalling £55m (2008: 8.75 pence per share, totalling £45m) was approved by the Board on 20 May 2009 and is payable on 14 August 2009 to shareholders on the register at the close of business on 10 July 2009. An enhanced scrip alternative is to be offered to shareholders with the fourth interim dividend. Further details have been provided with the Annual General Meeting notice circular.
The cash dividend (but not the share alternative) will be all PID. PID dividends are paid, as required by REIT legislation, after deduction of withholding tax at the basic rate (currently 20%). However, certain classes of shareholder may be able to claim exemption from deduction of withholding tax. Please refer to our website (http://www.britishland.com) for details.
| Pence per share | |||||||
|---|---|---|---|---|---|---|---|
| Payment date |
Dividend | PID | Non-PID | Total | Restated Total* |
2009 £m |
2008 £m |
| Current year dividends | |||||||
| 14.08.2009 | 2009 4th interim | 6.50† | 6.50 | 6.50 | |||
| 15.05.2009 | 2009 3rd interim | 9.38 | 9.38 | 7.77 | |||
| 13.02.2009 | 2009 2nd interim | 2.00 | 7.37 | 9.37 | 7.76 | 47 | |
| 14.11.2008 | 2009 1st interim | 6.70 | 2.68 | 9.38 | 7.77 | 48 | |
| 24.58 | 10.05 | 34.63 | 29.80 | ||||
| Prior year dividends | |||||||
| 15.08.2008 | 2008 Final | 8.75 | 8.75 | 7.25 | 45 | ||
| 19.05.2008 | 2008 3rd interim | 4.25 | 4.50 | 8.75 | 7.25 | 45 | |
| 15.02.2008 | 2008 2nd interim | 4.25 | 4.50 | 8.75 | 7.25 | 44 | |
| 16.11.2007 | 2008 1st interim | 4.25 | 4.50 | 8.75 | 7.25 | 45 | |
| 21.50 | 13.50 | 35.00 | 29.00 | ||||
| 17.08.2007 | 2007 Final | 8.25 | 8.25 | 6.84 | 43 | ||
| 18.05.2007 | 2007 2nd interim | 6.50 | 6.50 | 5.39 | 34 | ||
| Dividends in Reconciliation of Movement in Shareholders' Funds (2009: 30.03 pence per share; 2008: 26.72 pence as restated) |
185 | 166 | |||||
| Timing difference relating to payment of withholding tax | 3 | (5) | |||||
| Dividends in Cash Flow Statement | 188 | 161 | |||||
†Any shareholder elections to receive shares instead of the cash dividend will not be PID.
*Shares issued on 19 March 2009 pursuant to the Rights Issue were only entitled to dividends commencing with the 4th interim dividend payable on 14 August 2009. This column is restated for all past dividends to reflect the increase in the number of shares in issue. See note 2.