Scrip dividend scheme
Our Scrip Dividend scheme is a simple and cost effective way to build your shareholding in SSE. Shareholders who participate in the scheme receive their dividends in the form of shares instead of in cash. For full details, please read the scheme's terms and conditions.
Summary of the scheme
- You receive new shares instead of a cash dividend.
- The number of new shares you receive is calculated by reference to:
the number of shares you held at the relevant dividend record date;
multiplied by the cash dividend rate which is then;
divided by the Scrip Reference Share Price.
The Scrip Reference Share Price is the average closing mid market price of SSE's shares over the five dealing days starting with the relevant ex dividend day.
As an example, if you held 1,000 shares on a dividend record date, the cash dividend rate was 61.8 pence a share and the Scrip Reference Share Price was 1,696 pence a share, your £618 would result in you receiving 36 new shares. You residual cash would be held until the next dividend payment and used with that dividend payment to buy more shares.
Following each dividend payment, you’ll receive an accounting statement showing how many shares you’ve been allocated, as well as a share certificate.
How do I join the scheme?
If you hold your shares in certificated form, you can join the Scrip Dividend Scheme online by completing the electronic Scrip Dividend Mandate available via www.sse-shares.com.
To be effective for a particular dividend, Link Market Services must receive your election no later than 20 business days before the dividend payment date. If you hold your shares in uncertificated form, please consult your CREST sponsor who will be able to take the appropriate action on your behalf. Should you have any queries, please contact Link Market Services (Tel: 0345 143 4005).
Unless revoked, your Scrip Dividend Mandate Election will apply to all future dividends where a scrip dividend is offered. Please note this does not apply to CREST elections. If you hold your shares in uncertificated form, please consult your CREST sponsor who will be able to take the appropriate action on your behalf.
How do I withdraw from the scheme?
If you wish to withdraw from the scheme, please amend your instruction via your online shareholder account at www.sse-shares.com. To be effective, Link Market Services need to receive your request no later than 20 business days before the relevant dividend payment date. Should you have any queries, please contact Link Market Services (Tel: 0345 143 4005).