BAT Declares 235.52p Quarterly Dividend; SA Branch Receives 1,099.39 SA cents

  • British American Tobacco (BAT) declared a 235.52p quarterly dividend.
  • South Africa branch receives 1,099.39 SA cents after Dividends Tax.
  • BAT's total issued share capital is 2,355,733,811 ordinary shares.

British American Tobacco p.l.c. (BAT) has announced its August 2024 dividend. The payment is part of a series of quarterly dividends for the year ending December 31, 2023.

Interim Dividend Declaration

In February 2024, BAT’s Board declared an interim dividend of 235.52p per ordinary share. This is payable in four equal quarterly installments. The payments will occur in May 2024, August 2024, November 2024, and February 2025.

The August 2024 dividend will be paid on August 2, 2024. Shareholders must be registered on either the UK main register or the South Africa branch register by June 28, 2024, to be eligible.

South Africa Branch Register Finalisation

Dividend Rate

BAT reports its financials in sterling, thus dividends are declared and payable in sterling. However, dividends for shareholders on the South Africa branch register are payable in rand. The exchange rate used is £=23.3396 as of June 14, 2024, as quoted by Bloomberg. This results in an equivalent dividend of 1,374.23565 SA cents per ordinary share for August 2024.

Dividends Tax Information

South Africa’s Dividends Tax, at a rate of 20%, will be withheld from the gross dividend paid to shareholders on the South Africa branch register. This amounts to 274.84713 SA cents per ordinary share. The net dividend, after tax, will be 1,099.38852 SA cents per ordinary share. The dividend is classified as a ‘foreign dividend’ for South Africa Dividends Tax purposes. The income source for this payment is the United Kingdom.

Dividend Summary Table

DescriptionAmount (SA cents)
Gross Dividend1,374.23565
Dividends Tax (20%)274.84713
Net Dividend1,099.38852

Conclusion

BAT continues to provide substantial returns to its shareholders through its consistent dividend policy. The company ensures compliance with both UK and South African tax regulations. Shareholders are advised to note the important dates and tax implications as outlined.