The programme was approved by shareholders at the 2010 Annual General Meeting and this approval was renewed at the 2015, 2018 and 2021 Annual General Meetings. The board reviews the offer of a scrip alternative for each particular dividend. Whether a scrip alternative is available will be published on bp.com/dividends
The full terms and conditions of the scrip dividend programme can be downloaded below. These provide information on tax and example calculations of scrip entitlements. Please ensure that you read the applicable terms and conditions prior to making a scrip dividend election decision.
The Reference ADS Price is calculated by multiplying the reference share price by six (as there are six ordinary shares underlying each ADS) and adjusting for the fee payable to the Depositary under the ADS Deposit Agreement ($0.05 per ADS). Prior to the 2012 first quarter 2012 dividend payment, stamp duty reserve tax ('SDRT') of 1.5% was deducted from this calculation, but following a tax tribunal decision in 2012, HM Revenue & Customs will no longer seek to impose 1.5% SDRT on issues of UK shares and securities to non-EU clearance services and depositary receipt systems.
For information on how to sign up to the programme and for additional FAQs, please see the below downloadable documents.