By Ikenna Omeje

The Board of Royal Dutch Shell plc on Tuesday  announced the pounds sterling and euro equivalent dividend payments in respect of the second quarter 2020 interim dividend, which was announced on July 30, 2020 at US$0.16 per A ordinary share (“A Share”) and B ordinary share (“B Share”).

The company had on July 30,  released its second quarter results and second interim dividend announcement for 2020.

A release by the company said: “Dividends on A Shares will be paid, by default, in euros at the rate of €0.1353 per A Share. Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by August 28, 2020 will be entitled to a dividend of US$0.16 or 12.09p per A Share, respectively.

“Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 12.09p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by August 28, 2020 will be entitled to a dividend of US$0.16 or €0.1353 per B Share, respectively.

‘Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from 3 to 7 September 2020.’

Shell stated that ‘This dividend will be payable on September 21, 2020 to those members whose names were on the Register of Members on August 14, 2020.”

According to release, cash dividends on A Shares will be subject to the deduction of Dutch dividend withholding tax at the rate of 15 percent, which may be reduced in certain circumstances. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax.