13th Aug 2007 11:01
Hammerson PLC13 August 2007 Forms for Gross Payment of REIT Property Income Dividends Hammerson plc has published on its website the forms to be used by qualifyingshareholders to certify eligibility for gross payment of Property IncomeDividends ("PIDs") As a UK REIT, Hammerson is exempted from corporation tax on rental income andgains on UK investment properties but is required to pay PIDs. UK shareholderswill be taxed on PIDs received at their full marginal tax rates. A REIT may inaddition pay normal dividends and Hammerson currently expects that each year itsinterim dividend will be paid entirely as a PID but that its final dividend willhave both a PID and a normal dividend element. For most shareholders, PIDs will be paid after deducting withholding tax at thebasic rate. However, certain categories of shareholder are entitled to receivePIDs without deduction of withholding tax, principally UK resident companies, UKpublic bodies, UK pension funds and managers of ISAs, PEPs and Child Trustfunds. Most shareholders, including all individuals and all non-UK residents,do not qualify. Shareholders who qualify for gross payment are required to complete one of thetwo forms published on Hammerson's website. The first form is to be used whenthe registered shareholder is also the beneficial owner and the second form isfor a registered shareholder to certify that the underlying beneficial owner(s)qualifies. Where a registered shareholder holds shares on behalf of more thanone beneficial owner and this includes a non-qualifying shareholder, thecertification cannot be given and all the PID will be paid after deduction ofwithholding tax. The completed forms should be submitted to the Company's Registrars, CapitaRegistrars, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU. Formsmust be received by 21 September 2007 to qualify for gross payment of theOctober 2007 interim dividend. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hammerson