Schroder REIT’s Dividend Dance: Euro Cents, Rand Rewards, and Shareholder Flexibility Await in 2024

  • Schroder European Real Estate Investment Trust declares a fourth interim dividend of 1.48 euro cents per share.
  • Shareholders in South Africa and the UK will receive dividends in rand, sterling, or euros as an option.
  • Important dates: Record date on 29 December 2023, dividend payment on 25 January 2024, and exchange rates announced.
By Lethabo Ntsoane

Schroder European Real Estate Investment Trust plc has declared its fourth interim dividend for the fiscal year ending 30 September 2023, signalling positive returns for shareholders. The dividend, set at 1.48 euro cents per share, reflects the company’s commitment to delivering value to its investors.

Dividend Payment Details:

The dividend distribution is scheduled for Thursday, 25 January 2024, with eligibility based on the shareholder register as of the record date on Friday, 29 December 2023.

Trading and Ex-Dividend Dates:

RegionLast Day to TradeEx-Dividend Date
South Africa22 December 202327 December 2023
United Kingdom27 December 202328 December 2023

Currency Breakdown:

The dividend will be disbursed in sterling for shareholders on the UK register and in rand for shareholders on the South African register. Notably, UK shareholders have the option to receive dividends in euros, reflecting the company’s flexibility.

Exchange Rate Information:

The exchange rate for determining the interim dividend paid in rand will be officially announced on Monday, 11 December 2023. For UK shareholders opting for euros, the exchange rate for determining the interim dividend paid in sterling will be confirmed after the election cut-off date on Tuesday, 2 January 2024.

Share Movement Restrictions:

During the period from Monday, 11 December 2023, to Friday, 29 December 2023, shares cannot be transferred between the South African and UK registers. Additionally, shares may not be dematerialized or rematerialized in South Africa between Wednesday, 27 December 2023, and Friday, 29 December 2023.

Tax Implications for South African Shareholders:

For South African shareholders, dividend tax at a rate of 20% will be withheld from the declared dividend unless the shareholder qualifies for an exemption. Further details on dividend tax for South African shareholders will be included in the exchange rate announcement on Monday, 11 December 2023.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo