News & events

2012-05-23

Dividend Payment Procedure for 2011

At the ordinary general meeting of Litgrid AB (company code 302564383, registered address: A. Juozapavičiaus St. 13, LT-09311), convened 30 April 2012, the shareholders decided to distribute the Company's profits for 2011 and pay 0.775 litas per share in dividends.
 
Dividends shall be paid to those persons who are shareholders of LITGRID, AB, as listed in the shareholders’ register at the end of the day on 15 May 2012.
 
Effective 30 May 2012, the  payment procedure for dividends shall be as follows:
- To the shareholders, whose LITGRID AB shares are administered by a financial brokerage company or a credit institution, which provides securities accounting services, the dividend amount, after deductions for Personal or Corporate withholding income tax applicable under the laws of the Republic of Lithuania, shall be transferred to the shareholders' accounts held with a respective financial brokerage company or credit institution,
- To the shareholders, whose LITGRID AB shares on behalf of the Company (issuer) are administered by the authorised custodian SEB Bank, AB, the dividend amount, after deduction of Personal or Corporate withholding income tax applicable under the laws of Lithuania, shall be transferred to the shareholders' accounts with SEB Bank AB or the accounts with any other Lithuanian commercial bank as indicated by the shareholder (requests concerning account indications should be submitted to any branch of SEB Bank).
 
Dividends shall be subject to taxation as follows:
- Dividends paid to natural persons/residents of the Republic of Lithuania and natural persons/residents of foreign countries are subject to a withholding Personal income tax of 20%,
- Dividends paid to legal entities of the Republic of Lithuania and legal entities/residents of foreign countries are subject to a withholding Corporate income tax of 15%, unless otherwise stipulated by law.
 
Residents of foreign countries which have entered into international agreements on Avoidance of Double Taxation with the Republic of Lithuania, are eligible to reduced tariffs provided by such agreements by submitting the Claim for Reduction of the Anticipatory Tax Withheld at Source, form FR0021 (DAS-1).   In compliance with legal requirements, the form must be completed and submitted to SEB Bank by 25 May 2012 via the financial brokerage company or the credit institution, which provides securities accounting services, in charge of the shareholder's foreign resident securities administration.
 
For additional information please contact SEB Bank by telephone: 1528.
 
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