OPG has set out its dividend policy targeting an initial pay out of 15% of net earnings  increasing to 33% in the long term subject to free cash flow generated after scheduled debt repayments and expected capital expenditure. The Board has decided to pay a scrip dividend of 1 pence per share to shareholders in respect of FY18 and expect dividends to return to a cash payment (with scrip alternative) for FY19


The Company will offer shareholders the opportunity to elect to participate in the Scrip Dividend Scheme either partially (i.e. in respect of only some of their shares), on a one-off basis (i.e. in respect of all of their shares, but only for specific dividends which the Company declares, as opposed to every dividend) or (for certificated shareholders only) in relation to the shareholders full holding for the current and all future dividends (evergreen election).

Shareholders who choose to receive their dividends by cash will receive a dividend confirmation attached to each dividend cheque.


OPG’s Scrip Dividend scheme is a simple and cost effective way to build your shareholding in OPG Power Ventures plc. Shareholders who participate in the scheme receive their dividends in the form of shares instead of cash. For full details, please read the scheme's terms and conditions.

Summary of the scheme

  • You receive new shares instead of a cash dividend.
  • The number of new shares you receive is calculated by reference to:

the number of shares you held at the relevant dividend record date; multiplied by the cash dividend rate which is then; divided by the Scrip Reference Share Price.

The Scrip Reference Share Price is the average closing mid- market price of OPG’s shares over the five dealing days starting with the relevant ex dividend day. Only whole shares (rounded down) will be issued and any residual cash that is left over will be retained for the Company’s benefit.

As an example, if you held 10,000 shares on a dividend record date, the cash dividend rate was 1.00 pence a share and the Scrip Reference Share Price was 65 pence a share, your £100 would result in you receiving 153 new shares.

How do I join the scheme?

If you hold your shares in certificated form, you can join the Scrip Dividend Scheme by completing a Scrip Dividend Election Form (which may be amended from time to time) and return it to Capita Asset Services, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham BR3 4TU.  Alternatively, shareholders who hold shares in certificated form and who wish to make an evergreen election (i.e. for all future dividends for a period of 5 years) can join the Scrip Dividend Scheme online by completing the electronic equivalent of the Scrip Dividend Election Form via www.capitashareportal.com

To be effective for a particular dividend, Capita Registrars must receive the form no later than last day for the scrip election.

If you hold your shares in uncertificated form, please consult your CREST sponsor who will be able to take the appropriate action on your behalf. Further information is available in the Scrip scheme terms and conditions.

Unless revoked, evergreen elections (available to certificated shareholders only)m will apply to all future dividends where a scrip dividend is offered.

How do I cancel my evergreen election?

You may cancel your evergreen election at any time. A notice of cancellation must be given in writing to Capita Asset Services no later than 4.30pm on the last date for Scrip elections for the relevant dividend payment for it to be effective for that dividend. Please send a written request to: Capita Asset Services, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU.