BP PLC (BP.) - Replacement: 3Q Scrip Dividend Reference Price
RNS Number : 0111R
13 November 2012
13 November 2012
Third quarter interim dividend for 2012
Scrip Dividend Programme
On 30 October 2012, the Directors of BP p.l.c. announced that the interim
dividend for the third quarter 2012 would be US$0.09 per ordinary share
(US$0.54 per ADS). This interim dividend is to be paid on 21 December 2012 to
shareholders on the share register on 9 November 2012. The dividend is payable
in cash insterling to holders of ordinary shares and in US dollars to holders
of ADSs. A scrip dividend alternative will be made available for this dividend
allowing shareholders to elect to receive their dividend in the form of new
ordinary shares and ADS holders in the form of new ADSs.
The 'Reference Share Price' for the issue of new ordinary shares under the
scrip dividend alternative is:
US$ 6.850 for each new ordinary share.
For holders of ordinary shares this is equivalent to 1 new share for
approximately every 76.111 shares held prior to the ex-dividend
date of 7 November 2012.
The Reference Share Price is theaverage of the US dollar equivalent of the
closing mid price quotation for a BP ordinary share on the London Stock
Exchange Daily Official List for the four consecutive dealing days beginning
on the ex-dividend date of 7 November 2012. The US dollar equivalent price
each day is calculated from the sterling closing mid price using the exchange
rate published by the Bank of England at 4pm each day.
The 'Reference ADS Price' for the issue of new ADSs under the scrip dividend
US$ 41.150 for each new ADS.
For holders of ADSs this is equivalent to 1 new ADS for approximately every
76.204 ADSs held prior to the ex-dividend date of 7 November 2012.
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 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.
Dividends payable in cash in sterling on 21 December 2012 will be converted
fromUSdollars at the average of the market exchange rates for the four
dealing days from 4 December 2012 to 7 December 2012. The sterling cash
dividend will be announced to theLondonStock Exchange on 10 December 2012.
The latest date for receipt of elections to participate in the Scrip Dividend
Programme for this interim dividend is 3 December 2012. Shareholders must
return their mandate form or otherwise input their CREST elections, to be
received by BP's Registrar, Capita Registrars, by 4.30 pm (London time) on 3
December 2012, and ADS holders must return their election form to the
Depositary, JPMorgan Chase Bank N.A., by 5.00 pm (New York time) on that date.
Elections received after this deadline will apply to subsequent dividends
only. Unless revoked by you, your scrip dividend election will apply for all
future dividends for which a scrip dividend is offered. Evergreen elections
for CREST shareholders will not be accepted and elections will revert to cash
by default after the payment of each dividend.
Details of the third quarter dividend and timetable are available at
www.bp.com/dividends and details of the Scrip Dividend Programme are available
Deputy Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
MSCBKNDKNBDDDDD -0- Nov/13/2012 13:05 GMT
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