British American Tobacco p.l.c. (BATS) announced today the declaration of its Quarterly Dividends for the year ending December 31, 2022. The upcoming dividend, referred to as the August 2023 Dividend, marks the second installment of four equal quarterly payments.
The August 2023 Dividend is scheduled to be paid out on August 18, 2023, to shareholders registered on either the UK main register or the South Africa branch register as of July 14, 2023, the designated record date for eligibility.
For shareholders on the South Africa branch register, the dividend will be disbursed in South African rand (ZAR). Based on the exchange rate of £:R=23.90860 as of June 30, 2023, each ordinary share will be entitled to 1380.00439 SA cents as part of the August 2023 Dividend.
It is crucial to note that shareholders on the South Africa branch register will be subject to the South Africa Dividends Tax, set at a rate of 20%. Unless eligible for an exemption, shareholders will have 276.00088 SA cents per ordinary share withheld from the gross dividend. Consequently, the net dividend per ordinary share will amount to 1104.00351 SA cents.
In accordance with the South Africa Dividends Tax reporting requirements, the August 2023 Dividend is classified as a “foreign dividend,” with the United Kingdom serving as the source of income for the payment.
As of June 30, 2023, British American Tobacco reported a total of 2,236,360,704 ordinary shares in circulation, excluding treasury shares. Meanwhile, the company held 220,546,715 ordinary shares in treasury, resulting in a total issued share capital of 2,456,907,419 ordinary shares.