Unite Group announces scrip dividend results

LONDON - Unite Group (LON:UTG) PLC, the UK-based student accommodation provider, disclosed today that it has received scrip dividend elections for its 2024 final dividend from shareholders, which will result in the issuance of new ordinary shares. The elections were received in respect of 22,648,590 shares, representing approximately 4.63% of the company’s share capital.

The company has announced that it will issue 544,183 new ordinary shares, increasing the current issued share capital by roughly 0.11%. These shares will be priced at 867.7 pence each, based on the Scrip Reference Share Price set on April 28, 2025. The new shares will be on equal footing (pari passu) with existing issued ordinary shares in terms of rights.

Unite Group plans to submit applications to the UK Financial Conduct Authority for the new shares to be listed on the Official List and to the London Stock Exchange (LON:LSEG) for trading on the Main Market for listed securities. The admission of the shares is anticipated to take place on May 30, 2025.

Following this issuance, the total number of shares in issue and total voting rights in the company will stand at 489,352,205, effective from May 30, 2025. This figure will serve as a reference for shareholders for any required notifications regarding their interest in the company, as per the UK Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

Shareholders who opted for the scrip dividend and hold certificated shares will be mailed their share certificates, while those with shares in CREST will have their accounts directly credited on May 30, 2025.

The details of the scrip dividend scheme are available on Unite Group’s website, providing shareholders with the necessary information regarding the dividend option.

This move follows the company’s previous announcement on April 28, 2025, and is part of its broader financial and shareholder engagement strategies. The company’s decision to offer a scrip dividend option allows shareholders to increase their investment in the company without incurring transaction costs, while also providing Unite Group with retained earnings to potentially reinvest in its operations.

The information reported is based on a press release statement from Unite Group PLC.

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