Royal Dutch Shell plc First Quarter 2011 Interim Dividend
announced an interim dividend in respect of the first quarter of 2011 of
equal to the US dollar dividend for the same quarter last year.
RDS provides eligible shareholders with a choice to receive dividends in
cash or in shares via a Scrip Dividend Programme (“the Programme”). For
further details please see below.
Details relating to the first quarter 2011 interim dividend
It is expected that cash dividends on the B Shares will be paid via the
Dividend Access Mechanism from UK-sourced income of the Shell Group.
Per ordinary share Q1 2011 RDS A Shares (US$) 0.42 RDS B Shares (US$) 0.42
Dividends declared on A Shares will be paid, by default, in euro,
although holders of A Shares will be able to elect to receive dividends in
Dividends declared on B Shares will be paid, by default, in pounds
sterling, although holders of B Shares will be able to elect to receive
dividends in euro.
The pounds sterling and euro equivalent dividend payments will be
Per ADS Q1 2011 RDS A ADSs (US$) 0.84 RDS B ADSs (US$) 0.84
Dividends declared on American Depository Shares (“ADSs”) will be paid,
by default, in US dollars.
ADS stands for an American Depositary Share. ADR stands for an American
Depositary Receipt. An ADR is a certificate that evidences ADSs. ADSs are
listed on the NYSE under the symbols RDS.A and RDS.B. Each ADS represents two
ordinary shares, two A Shares in the case of RDS.A or two B Shares in the
case of RDS.B. In many cases the terms ADR and ADS are used interchangeably.
Scrip Dividend Programme
RDS provides shareholders with a choice to receive dividends in cash or
in shares via a Scrip Dividend Programme.
Under the Programme shareholders can increase their shareholding in RDS
by choosing to receive new shares instead of cash dividends if declared by
RDS. Only new A Shares will be issued under the Programme, including to
shareholders who currently hold B Shares.
Joining the Programme may offer a tax advantage in some countries
compared with receiving cash dividends. In particular, dividends paid out as
shares will not be subject to Dutch dividend withholding tax (currently 15
per cent) and will not generally be taxed on receipt by a UK shareholder or a
Dutch corporate shareholder.
Shareholders who elect to join the Programme will increase the number of
shares held in RDS without having to buy existing shares in the market,
thereby avoiding associated dealing costs.
Shareholders who do not join the Programme will continue to receive in
cash any dividends declared by RDS.
Shareholders who held only B shares and joined the Scrip Dividend
Programme are reminded they will need to make a Scrip Dividend Election in
respect of their new A shares if they wish to join the Programme in respect
of such new shares. However, this is only necessary if the shareholder has
not previously made a Scrip Dividend Election in respect of any new A shares
For further information on the Programme, including how to join if you
are eligible, please refer to the appropriate publication available on
Dividend timetable for the first quarter 2011 interim dividend Announcement date April 28, 2011 Ex-dividend date May 11, 2011 Record date May 13, 2011 Scrip reference share price announcement date May 18, 2011 Closing of scrip election and currency election * May 27, 2011 Pounds sterling and euro equivalents announcement date June 3, 2011 Payment date June 27, 2011 * A different scrip election date may apply to registered and non registered ADS holders.
Registered ADS holders can contact The Bank of New York Mellon for the
election deadline that applies. Non registered ADS holders can contact their
broker, financial intermediary, bank or financial institution for the
election deadline that applies.
Both a different scrip and currency election date may apply to
shareholders holding shares in a securities account with a bank or financial
institution ultimately holding through Euroclear Nederland. Please contact
your broker, financial intermediary, bank or financial institution where you
hold your securities account for the election deadline that applies.
Taxation cash dividends
Cash dividends on A Shares will be subject to the deduction of
in certain circumstances. Provided certain conditions are met, shareholders
in receipt of A Share cash dividends may also be entitled to a non-payable
dividend tax credit in the
Shareholders resident in the
B Shares through the Dividend Access Mechanism, are entitled to a tax credit.
This tax credit is not repayable. Non-residents may also be entitled to a tax
credit, if double tax arrangements between the
country of residence so provide, or if they are eligible for relief given to
non-residents with certain special connections with the
nationals of states in the European Economic Area.
The amount of tax credit is 10/90ths of the cash dividend, the tax credit
referable to the first quarter 2011 interim dividend of
per ordinary share and the dividend and tax credit together amount to
The companies in which
investments are separate entities. In this release “Shell”, “Shell group” and
“Royal Dutch Shell” are sometimes used for convenience where references are
words “we”, “us” and “our” are also used to refer to subsidiaries in general
or to those who work for them. These expressions are also used where no
useful purpose is served by identifying the particular company or companies.
”Subsidiaries”, “Shell subsidiaries” and “Shell companies” as used in this
release refer to companies in which
indirectly has control, by having either a majority of the voting rights or
the right to exercise a controlling influence. The companies in which Shell
has significant influence but not control are referred to as “associated
companies” or “associates” and companies in which Shell has joint control are
referred to as “jointly controlled entities”. In this release, associates and
jointly controlled entities are also referred to as “equity-accounted
investments”. The term “Shell interest” is used for convenience to indicate
the direct and/or indirect (for example, through our 24% shareholding in
Woodside Petroleum Ltd.) ownership interest held by Shell in a venture,
partnership or company, after exclusion of all third-party interest.
This release contains forward-looking statements concerning the financial
condition, results of operations and businesses of
statements other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are statements of
future expectations that are based on management’s current expectations and
assumptions and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
expressed or implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of
expectations, beliefs, estimates, forecasts, projections and assumptions.
These forward-looking statements are identified by their use of terms and
phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”,
“intend”, “may”, “plan”, “objectives”, “outlook”, “probably”, “project”,
“will”, “seek”, “target”, “risks”, “goals”, “should” and similar terms and
phrases. There are a number of factors that could affect the future
materially from those expressed in the forward-looking statements included in
this release, including (without limitation): (a) price fluctuations in crude
oil and natural gas; (b) changes in demand for the Shell’s products; (c)
currency fluctuations; (d) drilling and production results; (e) reserve
estimates; (f) loss of market share and industry competition; (g)
environmental and physical risks; (h) risks associated with the
identification of suitable potential acquisition properties and targets, and
successful negotiation and completion of such transactions; (i) the risk of
doing business in developing countries and countries subject to international
sanctions; (j) legislative, fiscal and regulatory developments including
potential litigation and regulatory measures as a result of climate changes;
(k) economic and financial market conditions in various countries and
regions; (l) political risks, including the risks of expropriation and
renegotiation of the terms of contracts with governmental entities, delays or
advancements in the approval of projects and delays in the reimbursement for
shared costs; and (m) changes in trading conditions. All forward-looking
statements contained in this release are expressly qualified in their
entirety by the cautionary statements contained or referred to in this
section. Readers should not place undue reliance on forward-looking
statements. Additional factors that may affect future results are contained
at http://www.shell.com/investor and http://www.sec.gov ). These factors also
should be considered by the reader. Each forward-looking statement speaks
only as of the date of this release,
revise any forward-looking statement as a result of new information, future
events or other information. In light of these risks, results could differ
materially from those stated, implied or inferred from the forward-looking
statements contained in this release. There can be no assurance that dividend
payments will match or exceed those set out in this release in the future, or
that they will be made at all.