2 Oct 2020 07:00
Smart Metering Systems plc
("SMS" or "the Company")
Interim Dividend
SCRIP Dividend Circular
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 FY2020 (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, followed by a final dividend in July 2021. As previously announced the Company will pay this first interim dividend to shareholders on the register at 1 October 2020, with an ex-dividend date of 2 October 2020.
The provisional dividend timetable for the remainder of FY2020 is 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.
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 | 0141 249 3850 |
Alan Foy, Chief Executive Officer | |
Dilip Kejriwal, Head of Investor Relations | |
Cenkos Securities plc (Joint Broker and Nomad) | 0131 220 6939 / 020 7397 8900 |
Neil McDonald / Pete Lynch | |
Investec Bank plc (Joint Broker) | 020 7597 5970 |
Christopher Baird / Henry Reast | |
RBC Capital Markets (Joint Broker) |
020 7653 4000 |
Matthew Coakes / Evgeni Jordanov |
Instinctif Partners (PR Adviser) | 020 7457 2020 |
Adrian Duffield / Kay Larsen / Chantal Woolcock | SMS@instinctif.com |
Notes to Editors
SMS plc (www.sms-plc.com) installs and manages smart meters, data and carbon reduction assets ("CaRe") to facilitate effective energy management. The Group manages and optimises these assets through its in-house technology and data analytical platform. As at 30 June 2020 SMS had 3.74 million meter and data assets under management.
Established in 1995, SMS provides a full end-to-end service, from funding and installation to management and maintenance, with a highly skilled workforce, deep engineering expertise and well-established industrial partnerships.
SMS is leading the smart energy revolution and the assets deployed remain at the heart of delivering and accelerating the UK government's net zero carbon ambition. In 2019, SMS was awarded the London Stock Exchange Green Economy Mark.
SMS plc is headquartered in Glasgow with a national presence across twelve UK locations.
SMS's shares are listed on AIM.