In the FY2020 Interim Results announcement released on 15 September 2020, it was confirmed, in line with the Board's policy, that SMS intends to pay a 25p per share dividend in respect of FY 2020 (representing an increase of 3.6x over FY 2019), with the first of three interim dividend instalments of 6.25p to be paid on 29 October 2020. As previously announced the Company will pay this first interim dividend to shareholders on the register at 2 October 2020, with an ex-dividend date of 1 October 2020.
The provisional dividend timetable for the remainder of FY 2020 will be as follows:
|Instalment||Ex-dividend date||Record date||Payment date|
|2||7 January 2021||8 January 2021||28 January 2021|
|3||1 April 2021||2 April 2021||29 April 2021|
|4||1 July 2021||2 July 2021||29 July 2021|
SMS also confirms it has posted SCRIP dividend circulars and mandate forms to shareholders. The circular explains the terms of the SCRIP Dividend Scheme, details of which are available on the Company's website at https://www.sms-plc.com/corporate/investors/shareholder-information/scrip-dividend/.
The SCRIP Dividend is being offered in respect of the first interim dividend intended to be paid on 29th October 2020 and allows shareholders to elect to receive ordinary shares of 1p each in the Company ("Ordinary Shares") in lieu of a cash dividend through participation in the Scrip Dividend Scheme. As previously announced
Any shareholders entitled to the first interim dividend of financial year 2020 who wish to participate in the SCRIP Dividend Scheme may obtain a mandate form by contacting the Company's Registrar, Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol BS99 6ZZ. The mandate form must be completed and returned to Computershare to arrive no later than the close of business on 15th October 2020 in order for it to be effective.
The exact number of shares which will require to be issued will be established after 15 October 2020, being the final date for receipt of elections to participate in the Scrip Dividend Scheme. As previously advised, the ex-dividend date for the SCRIP dividend is 1 October 2020, the record date is 2 October 2020 and the payment date is 29 October 2020.
For further information:
Smart Metering Systems plc
Alan Foy, Chief Executive Officer
Dilip Kejriwal, Head of Investor Relations
0141 249 3850
Cenkos Securities plc (Joint Broker and Nomad)
Neil McDonald / Pete Lynch
0131 220 6939 / 020 7397 8900
Investec Bank plc (Joint Broker)
Christopher Baird / Henry Reast
020 7597 5970
RBC Capital Markets (Joint Broker)
Matthew Coakes / Evgeni Jordanov
020 7653 4000
Instinctif Partners (PR Adviser)
Adrian Duffield / Kay Larsen / Chantal Woolcock
020 7457 2020