With effect from 1 August 2019 Palace Capital converted to a Real Estate Investment Trust (REIT). As a REIT the Company must follow certain rules relating to the distributions it makes to shareholders, and how those distributions are taxed. 90% of the tax-exempt profit from Palace Capital’s property rental business has to be distributed to shareholders. This is known as a Property Income Distribution, or ‘PID’. Palace Capital can also distribute taxed income from its other activities, known as a Non-Property Income Distribution, or ‘non-PID’.shorter
Dividends are paid on a quarterly basis in April, July, October and December. Dividends may be paid as Property Income Distribution (‘PID’), Non-Property Income Distribution (‘non-PID’) or a mixture of the two.
The Company paid its first PID Dividend in December 2019 in relation to the quarter ending 30 September 2019. All dividends paid in respect of periods ending before 1 August 2019 will be ordinary dividends not subject to the REIT regime.
| Financial Year | Dividend | Property Income Distribution | Ordinary Distribution | Total | Ex-Div Date | Payment Date |
|---|---|---|---|---|---|---|
| 2023 | Interim | 3.75p | - | 3.75p | 22/12/2022 |
13/01/2023 |
| 2023 | Interim | 3.75p | - | 3.75p | 22/09/2022 |
14/10/2022 |
| 2022 | Final | 3.75p | - | 3.75p | 30/06/2022 |
05/08/2022 |
| 2022 | Interim | 3.25p | - | 3.25p | 24/03/2022 |
14/04/2022 |
| 2022 | Interim | 3.25p | - | 3.25p | 09/12/2021 |
31/12/2021 |
| 2022 | Interim | 3.00p | 3.00p | 24/09/2021 |
15/10/2021 |
|
| 2021 | Final | 3.00p | - | 3.00p | 01/07/2021 |
05/08/2021 |
| 2021 | Interim | 2.50p | - | 2.50p | 18/03/2021 |
09/04/2021 |
| 2021 | Interim | 2.50p | - | 2.50p | 10/12/2020 |
31/12/2020 |
| 2021 | Interim | 2.50p | - | 2.50p | 24/09/2020 |
16/10/2020 |
| 2020 | Final | 2.50p | - | 2.50p | 23/07/2020 |
14/08/2020 |
| 2020 | Interim | 2.50p | 2.25p | 4.75p | 19/03/2020 | 09/04/2020 (cancelled) |
| 2020 | Interim | 1.30p | 3.45p | 4.75p | 05/12/2019 | 27/12/2019 |
| Financial Year | Dividends | Ex-div date | Payment date | Amount |
|---|---|---|---|---|
| 2020 | Interim dividend | 26/09/2019 | 18/10/2019 | 4.75p per share |
| 2019 | Final dividend | 13/06/2019 | 12/07/2019 | 4.75p per share |
| 2019 | Interim dividend | 21/03/2019 | 12/04/2019 | 4.75p per share |
| 2019 | Interim dividend | 06/12/2018 | 28/12/2018 | 4.75p per share |
| 2019 | Interim dividend | 04/10/2018 | 19/10/2018 | 4.75p per share |
| Financial Year | Dividends | Ex-div date | Payment date | Amount |
|---|---|---|---|---|
| 2018 | Final dividend | 05/07/2018 | 31/07/2018 | 4.75p per share |
| 2018 | Interim dividend | 22/03/2018 | 13/04/2018 | 4.75p per share |
| 2018 | Interim dividend | 07/12/2017 | 29/12/2017 | 9.5p per share |
| 2017 | Final dividend | 06/07/2017 | 28/07/2017 | 9.5p per share |
| 2017 | Interim dividend | 08/12/2016 | 30/12/2016 | 9.0p per share |
| 2016 | Final dividend | 07/07/2016 | 29/07/2016 | 9.0p per share |
| 2016 | Interim dividend | 10/12/2015 | 30/12/2015 | 7.0p per share |
| 2015 | Final dividend | 09/07/2015 | 31/07/2015 | 7.0p per share |
| 2015 | Interim dividend | 04/12/2014 | 30/12/2014 | 6.0p per share |
| 2014 | Final dividend | 09/07/2014 | 31/07/2014 | 2.5p per share |
| 2014 | Interim dividend | 02/04/2014 | 07/05/2014 | 2.0p per share |
There are implications for the taxation of dividends and if you qualify to receive your dividend gross of withholding tax, you should complete one of the forms below depending on whether or not you are the beneficial owner of your shareholding or an intermediary.
The completed form should be sent to the Company’s Registrar:
Link Group
10th Floor
Central Square
29 Wellington Street
Leeds
LS1 4DL