BT 2001 Annual Report Download - page 146

CREST: London Stock Exchange settlement system
The company’s ordinary shares are settled in CREST, the computerised system for settling sales and purchases of shares. CREST
is a voluntary system which enables shareholders, if they wish, to hold and transfer their shareholdings electronically rather than
by paper. Shareholders who wish to retain their certi¢cates are able to do so.
Individual savings accounts (ISAs)
Information about investing in BT shares through an ISA may be obtained from Halifax Share Dealing Limited, Westbank, Water
Lane, Leeds LS11 5TL (telephone [phone]). ISAs are also o¡ered by other organisations.
Dividends
The company has, since shortly after its incorporation in 1984, paid interim dividends annually in February and ¢nal dividends
in September. The interim dividend we paid in February 2001 was at the same rate as in the previous year. However, as part of
BT’s debt reduction and restructuring plans, the Board is not recommending the payment of a ¢nal dividend to shareholders for
the year ended 31 March 2001. In addition, the company has announced that there will be no interim dividend for the year ending
31 March 2002.
Future dividends, if any, will depend on the progress of the new companies created by our restructuring programme. These
companies will determine their own dividend policies in accordance with their respective capital structures, cash requirements
and the markets in which they operate.
The dividends paid or payable on BT shares and ADSs for the last ¢ve years are shown in the following table. The
dividends on the ordinary shares exclude the associated tax credit. The dividends on the ADSs paid before 5 April 1999 include
the associated UK tax credit available to certain bene¢cial owners who are resident in the United States or Canada for tax
purposes, but before deduction of UK withholding taxes. The amounts shown are not those that were actually paid to holders of
ADSs. For the tax treatment of dividends, which changed for dividends paid on or after 6 April 1999, see Taxation of dividends
below. 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 31 March
Interim
pence
Final
pence
Total
pence
Interim
£
Final
£
Total
£
Interim
US$
Final
US$
Total
US$
1997(a) 7.90 11.95 19.85 0.987 1.494 2.481 1.582 2.391 3.973
1998(b) 7.55 11.45 19.00 0.944 1.431 2.375 1.540 2.400 3.940
1999(b) 8.10 12.30 20.40 1.012 1.366 2.378 1.644 2.202 3.846
2000(b) 8.70 13.20 21.90 0.870 1.320 2.190 1.529 2.039 3.568
2001(b) 8.70 – 8.70 0.870 – 0.870 1.397 – 1.397
(a) In addition, a special dividend of 35p per share, excluding the associated tax credit, or £4.375 (US$7.002) per ADS, including the UK associated tax credit, was
paid at the same time as the final dividend for the 1997 financial year.
(b) The dividends for the 1998, 1999, 2000 and 2001 financial years include an adjustment to take account of the effect of the 1997 special dividend.
As dividends paid by the company are in pounds sterling, exchange rate £uctuations will a¡ect the US dollar amounts
received by holders of ADSs on conversion by the Depositary of such cash dividends.
Dividend mandate
Any shareholder wishing dividends to be paid directly into a bank or building society account should contact the Registrar for a
dividend mandate form. Dividends paid in this way will be paid through the Bankers Automated Clearing System (BACS).
Alternatively, a form may be downloaded from the internet at www.groupbt.com/investorcentre
Additional information for shareholders
146 BT Annual report and Form 20-F