Summary
CRH Public Limited Company (CRH) has filed a Form 6-K, reporting on its 2017 Interim Dividend Scrip Alternative. This filing is primarily an informational update for shareholders regarding the mechanics of the scrip dividend offering, which allows shareholders to elect to receive new CRH shares instead of a cash dividend. The key information for investors is the determination of the price for these new shares, which is set at €29.24, and the specific ratios for share entitlement based on whether dividend withholding tax applies. This scrip alternative provides shareholders with an opportunity to increase their stake in CRH without incurring immediate transaction costs associated with purchasing shares on the open market. The price is calculated based on the average mid-market quotation of CRH shares over three consecutive business days following the ex-dividend date (September 7, 2017), ensuring the offer price is aligned with market valuations. Investors should note the different entitlement ratios depending on their tax jurisdiction.
Key Highlights
- 1CRH plc announced the price for its 2017 Interim Dividend Scrip Alternative will be €29.24 per new share.
- 2Shareholders can elect to receive new CRH shares instead of a cash dividend.
- 3The entitlement ratio is one new share for every 190.364583 shares held where dividend withholding tax applies.
- 4The entitlement ratio is one new share for every 152.291667 shares held where dividend withholding tax does not apply.
- 5The scrip price is determined by the average mid-market quotation for the three business days commencing on the ex-dividend date (September 7, 2017).
- 6The offer is in accordance with Article 137(b) of the Company's Articles of Association.
- 7Shareholders have been provided with offer documents and the details are available on CRH's website and regulatory filings.