ROYAL DUTCH SHELLA : REG-Royal Dutch Shell: Q1 2012 Scrip Dividend Reference Price
05/16/2012| 02:27am US/Eastern
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ROYAL DUTCH SHELL PLC FIRST QUARTER 2012 SCRIP DIVIDEND
PROGRAMME REFERENCE SHARE PRICE
The Board of Royal Dutch Shell plc ("RDS") today
announced the Reference Share Price in respect of the first
quarter interim dividend of 2012, which was announced on
April 26th, 2012 at $0.43 per A ordinary share ("A
Share") and B ordinary share ("B Share") and
$0.86 per American Depository Share ("ADS").
Reference Share Price
The Reference Share price is used for calculating a
Participating Shareholder's entitlement under the Scrip
Dividend Programme, as defined below.
Q12012 Reference Share price (US$) 32.785
The Reference Share Price is the US dollar equivalent of the
average of the closing price for the Company's A Shares
listed on Euronext Amsterdam for the five dealing days
commencing on (and including) the date on which the Shares
are first quoted ex-dividend in respect of the relevant
dividend.
The Reference Share Price is calculated by reference to the
Euronext Amsterdam closing price in euro. The US dollar
equivalent of the closing price on each of the dealing days
referred to above is calculated using a market currency
exchange rate prevailing at the time.
Reference ADSPrice
ADS stands for "American Depositary Share". ADR
stands for "American Depositary Receipt". An ADR is
a certificate that evidences ADSs (though the terms ADR and
ADS are often used interchangeably). ADSs are listed on the
NYSE under the symbols RDS.A and RDS.B. Each ADS represents
two ordinary shares, two ordinary A Shares in the case of
RDS.A or two ordinary B Shares in the case of RDS.B.
Q12012 Reference ADS price (US$) 65.570
The Reference ADS Price equals the Reference Share Price of
the two A Shares underlying each new A ADS. A recent court
ruling has established that Stamp Duty Reserve Tax (SDRT) is
not due on the issue of shares to a US depositary. Therefore,
the Reference ADS price no longer includes an adjustment for
the deduction of SDRT (or the Dutch withholding tax
associated with the payment of SDRT). Given these changes,
there is no longer a need to have an Alternative Reference
ADS Price. The Reference ADS Price will instead apply to all
A ADSs and B ADSs.
Royal Dutch Shell plc is currently exploring together with
the Depository how ADS holders might reclaim SDRT amounts
deducted on previous issues under the Scrip Dividend
Programme. Details will be made available as soon as possible
on the dividend section of the Royal Dutch Shell plc website:
www.shell.com/ dividend.
Scrip dividend programme
RDS provides shareholders with a choice to receive dividends
in cash or in shares via a Scrip Dividend Programme.
Under the Programme shareholders can increase their
shareholding in RDS by choosing to receive new shares instead
of cash dividends if declared by RDS. Only new A Shares will
be issued under the Programme, including to shareholders who
currently hold B Shares.
Joining the Programme may offer a tax advantage in some
countries compared with receiving cash dividends. In
particular, dividends paid out as shares will not be subject
to Dutch dividend withholding tax (currently 15 per cent) and
will not generally be taxed on receipt by a UK shareholder or
a Dutch corporate shareholder.
Shareholders who elect to join the Programme will increase
the number of shares held in RDS without having to buy
existing shares in the market, thereby avoiding associated
dealing costs.
Shareholders who do not join the Programme will continue to
receive in cash any dividends declared by RDS.
Shareholders who held only B shares and joined the Scrip
Dividend Programme are reminded they will need to make a
Scrip Dividend Election in respect of their new A shares if
they wish to join the Programme in respect of such new
shares. However, this is only necessary if the shareholder
has not previously made a Scrip Dividend Election in respect
of any new A shares issued.
For further information on the Programme, including how to
join if you are eligible, please refer to the appropriate
publication available on www.shell.com/scrip.
Royal Dutch Shell plc
The Hague, May 16th, 2012
XLON
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