MOTOR OIL (HELLAS) S.A. announces that pursuant to the Law 4446/2019 the tax rate imposed on dividends was reduced to 5% from 10% previously which was the valid applicable rate at the time the payment of the year 2019 interim dividend of the Company took place.
It is reminded that the shareholders entitled to the year 2019 interim dividend were those shareholders registered in the electronic files of the Dematerialized Securities System (S.A.T.) dated Wednesday December 11th, 2019 (record date) for MOTOR OIL (HELLAS) S.A. while the year 2019 interim dividend payment was effected through the payee bank – BANK OF PIRAEUS S.A. on Tuesday December 17, 2019.
As a result of the reduction of the tax rate imposed on dividends an amount of € 0.0175 per share has to be returned to record date Company shareholders taxed with a 10% rate instead of the lower rate of 5%.
The amount of € 0.0175 per share corresponds to the excess tax amount withheld during the distribution of the interim dividend for the year 2019 (i.e. 5% applied on 0.35 Euro which was the gross interim dividend amount per share) and will be returned to those Company shareholders entitled to it through the payee bank – BANK OF PIRAEUS S.A. on Friday 20 March 2020 as follows:
1. Through the Dematerialized Securities System (DSS) Operators, that is Banks and Brokerage / Securities firms, for those shareholders who have authorized their Operator(s) for the collection of monetary distributions.
2. By direct credit to the bank account corresponding to the International Bank Account Number (IBAN) declared by the shareholder, pursuant to article 13 of the DSS Operation Regulation and decision number 6 of the ATHEXCSD Board, as in force, in case the shareholder does not wish to collect the excess tax amount withheld through his/her Operator(s). This case concerns only the shareholders who have declared an IBAN kept with the payee bank – BANK OF PIRAEUS S.A.
3. The shareholders who have revoked the authorization for monetary distribution collection through their Operator(s) will be attended to at any branch of the payee bank – BANK OF PIRAEUS S.A. The collection of the excess tax amount withheld through any branch of the payee bank concerns also those shareholders of category 2 above who have not declared an IBAN kept with the payee bank – BANK OF PIRAEUS S.A.
4. The shareholders not credited by their DSS Operator(s), for whatever reason, will be attended to at any branch of the payee bank – BANK OF PIRAEUS S.A. – from Friday 27 March 2020.
The shareholders falling into the categories 3 and 4 described above will be able to collect the excess tax amount withheld in person or through their legally authorized representative until December 31st, 2025 by presenting to the payee bank – BANK OF PIRAEUS S.A. – a copy of their DSS details and their Identification Card.
Maroussi, 11 March 2020
The Board of Directors
