|
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
2002, was paid on 9 September 2002 to shareholders on
the register on 9 August 2002, and an interim dividend
in respect of the year ended 31 March 2003 was paid
on 10 February 2003 to shareholders on the register
on 31 December 2002.
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 below. 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 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Interim
|
Final
|
Total
|
|
Interim
|
Final
|
Total
|
|
Interim
|
Final
|
Total
|
| Years
ended 31 March |
|
pence
|
pence
|
pence
|
|
£
|
£
|
£
|
|
US$
|
US$
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1999
|
|
8.10 |
12.30 |
20.40 |
|
1.012 |
1.366 |
2.378 |
|
1.644 |
2.202 |
3.846
|
|
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 |
|
– |
0.20 |
0.20 |
|
– |
0.311 |
0.311
|
|
2003
|
|
2.25 |
4.25 |
6.50 |
|
0.225 |
0.425 |
0.65 |
|
0.366 |
–a
|
–a
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| a
Qualifying holders
of ADSs on record as of 8 August 2003 are entitled
to receive the final dividend which will be paid
on 15 September 2003, subject to approval at
the annual general meeting. The US dollar amount
of the final dividend of 42.5 pence per ADS to be
paid to holders of ADSs will be based on the exchange
rate in effect on 8 September 2003, 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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