Frequently asked questions

Open all

When does British Land pay dividends?

British Land pays a dividend every quarter, usually in February, May, August and November.

To receive a dividend, shares must have been purchased or transferred to you by the ex-dividend date for that dividend, so that your name appears on the share register on the record date. These dates are announced ahead of each dividend payment.

When will the next dividend be paid?

Details of upcoming dividend payments can be found here, when announced.

How are British Land dividends paid?

Dividend cheques are posted to shareholders’ registered addresses. Alternatively, shareholders can elect to have dividends paid directly to their bank or building society accounts. Details of how to sign up for this faster, more secure form of payment can be found here.

Shareholders who would prefer to receive new ordinary shares instead of cash dividends have the opportunity to do this via our Scrip Dividend Scheme.

What is the Scrip Dividend Scheme?

The Scrip Dividend Scheme allows shareholders to receive new British Land shares instead of cash, when a Scrip Dividend Alternative is offered for a particular dividend payment. This allows shareholders to build their holding of shares in British Land without incurring dealing costs.

More details about our Scrip Dividend Scheme, and how to sign up, can be found here.

British Land is a Real Estate Investment Trust (REIT) – what does this mean in terms of dividends and tax?

Because British Land is a REIT, it must follow certain rules relating to money it distributes to shareholders, and how those distributions are taxed.

90% of the tax-exempt profit from British Land's property rental business has to be distributed to shareholders. This is called Property Income Distribution, or 'PID'. British Land can also distribute income from its other activities, known as Non-Property Income Distribution, or 'non-PID'.

Dividends can be entirely PID, entirely non-PID, or a split between the two; the Board will decide the most appropriate split on a dividend-by-dividend basis. Sometimes the treatment of the Scrip Dividend Alternative may be different to the treatment of the cash dividend.

The tax treatment of PID and non-PID dividends is different. Non-PID dividends are treated like "normal" dividends paid by non-REIT companies. From 6 April 2016 the tax free Dividend Allowance will apply to non-PID dividends. Previously a tax credit of 10% was deemed to be deducted from the non-PID dividend payment.

Because PID dividends are paid out of British Land's tax-exempt profits, they are potentially taxable in the shareholders' hands as property letting income. PID dividends are usually paid to shareholders after the deduction of withholding tax at the basic rate of income tax (20%).

More detailed information can be found here and on the Reita website.

How can I calculate the dividends that have been paid to me?

You can calculate the amount paid on your shareholding for a particular dividend using the Dividend Calculator feature. Details of dividends that British Land has paid in the past can be found here.

Can I view my British Land shareholding online?

Shareholders can create an account via the website of our Registrars, Equiniti Limited, at www.shareview.com to view their Portfolio online.

How do I find out how my dividends have been taxed?

If you receive dividend cheques, a tax voucher will be attached to each cheque relating to that dividend.

If your dividends are paid directly into your bank or building society account you will receive an annual consolidated tax voucher each February. Alternative, if your dividends are paid directly into your bank or building society account and you have signed up for an electronic Portfolio on our Registrar’s website www.shareview.com, you can elect to receive electronic tax vouchers. An email notifying you that your electronic tax voucher is available on-line will be sent on each dividend payment, instead of an annual consolidated tax voucher being posted.

Who should I contact if I have questions relating to my British Land dividends?

If you hold British Land shares in your own name, our Registrars, Equiniti Limited, should be contacted. Equiniti can be contacted by telephone on 0871 384 2233 (lines open 8.30am-5.30pm Monday to Friday) or on +44 121 415 7065 for international callers. Alternatively Equiniti can be contacted by post, by writing to: Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.

If your shares are held by a nominee, you should contact the person who holds the shares on your behalf.

If you receive unsolicited communications from someone suggesting they are acting for British Land or our registrars, before taking any action, please check their details with our registrars, the Financial Services Authority or British Land, as they may be attempting to defraud you. See the shareholder information section for more detail.