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Since shortly after its
incorporation in 1984, British Telecommunications plc paid interim dividends
annually in February and final dividends in September. However, as part of BT’s
debt reduction and restructuring plans, neither a final dividend for the year
ended 31 March 2001 nor an interim dividend for the year ended 31 March 2002
was paid to shareholders.
A final dividend in respect of the year ended 31 March 2003,
was paid on 8 September 2003 to shareholders on the register on 8 August 2003,
and an interim dividend in respect of the year ended 31 March 2004 was paid on
9 February 2004 to shareholders on the register on 30 December 2003.
The dividends paid or payable on BT shares
and ADSs for the last five years are shown in the following table.
The dividends on the ordinary shares exclude the associated tax
credit. The amounts shown are not those that were actually paid
to holders of ADSs. For the tax treatment of dividends paid on
or after 6 April 1999 see Taxation
of dividends. The dividends on the ADSs paid before 5
April 1999 include the associated UK tax credit available to certain
beneficial owners who are resident in the United States or Canada
for tax purposes, but before deduction of UK withholding taxes.
Dividends have been translated from pounds sterling into US dollars
using exchange rates prevailing on the date the ordinary dividends
were paid.
| |
|
Per ordinary
share |
|
Per ADS |
|
Per ADS |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
|
|
Interim |
|
Final |
|
Total |
|
Interim |
|
Final |
|
Total |
|
Interim |
|
Final |
|
Total |
|
|
31 March
|
|
pence |
|
pence |
|
pence |
|
£ |
|
£ |
|
£ |
|
US$ |
|
US$ |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2000 |
|
8.70 |
|
13.20 |
|
21.90 |
|
0.870 |
|
1.320 |
|
2.190 |
|
1.529 |
|
2.039 |
|
3.568 |
|
| 2001 |
|
8.70 |
|
– |
|
8.70 |
|
0.870 |
|
– |
|
0.870 |
|
1.397 |
|
– |
|
1.397 |
|
| 2002 |
|
– |
|
2.00 |
|
2.00 |
|
– |
|
0.200 |
|
0.200 |
|
– |
|
0.311 |
|
0.311 |
|
| 2003 |
|
2.25 |
|
4.25 |
|
6.50 |
|
0.225 |
|
0.425 |
|
0.650 |
|
0.366 |
|
0.673 |
|
1.039 |
|
| 2004 |
|
3.20 |
|
5.30 |
|
8.50 |
|
0.320 |
|
0.530 |
|
0.850 |
|
0.590 |
|
– |
a |
– |
a |
|
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|
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| a |
Qualifying holders of ADSs on record as
of 6 August 2004 are entitled to receive the final dividend which will be paid
on 14 September 2004, subject to approval at the annual general meeting. The US
dollar amount of the final dividend of 53 pence per ADS to be paid to holders
of ADSs will be based on the exchange rate in effect on 6 September 2004, the
date of payment to holders of ordinary shares. |
As dividends paid by the company are in
pounds sterling, exchange rate fluctuations will affect the US dollar amounts
received by holders of ADSs on conversion by the Depositary of such cash
dividends.
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