8-K

CRH PUBLIC LTD CO 8-K Report (Sep 26, 2003)

Filed September 26, 2003For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K report on September 26, 2003, detailing its 2003 interim dividend scrip documentation. The primary focus of this filing is to inform shareholders about their option to receive new ordinary shares in lieu of a cash dividend. This scrip dividend offer is presented as an opportunity for shareholders to increase their investment in CRH without incurring transaction costs like dealing fees or stamp duty. The report outlines the specifics of this offer, including the dividend amount, the price at which new shares will be issued, and the calculation basis for share entitlements, considering potential dividend withholding tax. Investors should note the specific dates provided for the dividend process, including the ex-dividend date, record date, and the deadline for election forms. The company emphasizes the importance of reviewing the terms and conditions of the scrip dividend scheme, particularly regarding tax implications, and advises shareholders to consult with professional advisors if they have any doubts. The filing also includes details on how to manage recurring scrip dividend elections through a mandate scheme. The overall message is one of providing shareholders with a cost-effective way to reinvest their dividend income back into the company.

Key Highlights

  • 1CRH is offering shareholders the option to receive new ordinary shares instead of a cash dividend for its 2003 interim dividend.
  • 2The interim dividend amount is 8.20 cent per ordinary share, payable on November 7, 2003.
  • 3New shares will be issued at a price of €16.22 per share.
  • 4Shareholders can increase their holdings in CRH without incurring dealing costs or stamp duty through this scrip dividend offer.
  • 5The offer is subject to the admission of new shares to the Irish and UK stock exchanges.
  • 6A mandate scheme is available for shareholders who wish to automatically receive new shares for future scrip dividend offers.
  • 7The deadline for submitting election and mandate forms is October 23, 2003.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide shareholders with documentation and details regarding CRH's 2003 interim dividend scrip offer. This allows shareholders to choose between receiving their dividend in cash or as new CRH ordinary shares.

Shareholders who held ordinary shares on the record date (September 12, 2003) are entitled to receive a dividend. Instead of cash, they can elect to receive new CRH ordinary shares. The number of new shares received depends on the dividend amount and the issue price of the new shares (€16.22), with specific ratios provided based on whether dividend withholding tax applies.

The primary benefit for shareholders is the ability to increase their investment in CRH without incurring additional transaction costs such as dealing fees or stamp duty. It's a way to reinvest dividend income directly into acquiring more shares.

The latest date for receipt of completed Election and Mandate Forms is 12 noon on October 23, 2003. Shareholders wishing to revoke an existing mandate must also submit their notice by this deadline.