ETASSUM24790 - Schedule 2 share incentive plan (SIP): Types of award: Dividend shares: Payment of dividends where no requirement to reinvest
Cash dividends
Any cash dividends on plan shares which are not required to be reinvested (either because the company has not made a direction for reinvestment or the participant has not elected for it) must be paid over to the participant as soon as practicable (paragraph 69).
Non-cash dividends
Non-cash dividends cannot be reinvested nor be treated as dividend shares and must be passed to the participant as soon as practicable in accordance with the trustees바카라 사이트™ obligation to pay over any money or money바카라 사이트™s worth received in respect of any of the participant바카라 사이트™s shares (paragraph 74).
In both cases the trustees must issue a voucher to each participant to whom a dividend is paid, which shows the amount of the dividend passed on and the associated tax credit in the normal way.