Scrip dividend scheme

The SSE plc Scrip Dividend Scheme (the “Scheme”) is a simple and cost-effective way for shareholders to build their shareholding in SSE. Shareholders who participate in the Scheme receive their dividends in the form of new Ordinary Shares instead of in cash. For full details, please read the scheme's terms and conditions.

Summary of the scheme

Shareholders that elect to join the Scheme receive new shares instead of a cash dividend.

The number of new shares received is calculated as follows:

The number of shares held at the relevant dividend record date;
multiplied by the cash dividend rate which is then;
added to any fractional cash entitlement carried forward from the last divided;
divided by the Scrip Reference Share Price.

The Scrip Reference Share Price is the average closing mid-market price of SSE's shares over the five dealing days starting with the relevant ex dividend day.

As an example, if a shareholder held 1,000 shares on a dividend record date, the cash dividend rate was 40 pence per share and the Scrip Reference Share Price was £18.48 per new share, the cash dividend of £400 (i.e. 1,000 x 40p) would result in the shareholder receiving 21 new shares (i.e. £400÷£18.48). The residual cash  of £11.92 (i.e. £400 - (21 x £18.48) would be held until the next dividend payment and used with that dividend payment to buy more shares.

Following each dividend payment, shareholders will receive an accounting statement showing how many shares they have been allocated, as well as a share certificate.

How to join the scheme

Shareholders holding their shares in certificated form, can join the Scrip Dividend Scheme through the online Investor Centre managed by SSE’s registrar, Computershare Investor Services plc (“Computershare”). They will need to enter their Shareholder Reference Number (SRN), which can be found on any recent documentation issued by Computershare, and their postcode and follow the instructions to complete their online Scrip Dividend Mandate. Alternatively, shareholders can join the Scheme by completing a paper Scrip Dividend Mandate form which may be obtained upon request from Computershare using the contact details available here.

To be effective for a particular dividend, Computershare must receive a Scrip Dividend Mandate no later than 20 business days before the dividend payment date.

Unless revoked, Scrip Dividend Mandates will apply to all future dividends where a scrip dividend alternative is offered.

Please note this does not apply to shareholders holding shares in uncertified form. Such shareholders should consult their CREST sponsor or nominee who will be able to advise and take the appropriate action on their behalf.

How to withdraw from the scheme?

Shareholders who  wish to withdraw from the Scheme can do so, through, though the online Investor Centre . They will need to enter their Shareholder Reference Number (SRN), which can be found on any recent documentation issued by Computershare, and their postcode and follow the instructions to amend their Scrip Dividend Mandate. Alternatively, shareholders can withdraw from the Scheme by writing to Computershare using the contact details available here. To be effective, valid withdrawal requests should be received by Computershare no later than 20 business days before the relevant dividend payment date.

Registering bank account details

Shareholders participating in the Scheme are encouraged to register their bank account details with Computershare so that any residual payment can be made should they withdraw from the Scheme and so that their dividend can be paid should the Scheme not be offered for any particular dividend. Information on how to register bank account details is available here.

For any queries on the Scheme, please contact Computershare.