Shareholder Centre

Shareholder FAQs

HomeInvestorsShareholder CentreShareholder FAQs

Shareholder FAQs

How do I transfer my Centrica shares?

You may at some point wish to transfer some or all of your shares to someone else (for example your partner or other member of your family). To do this, you will need to complete a share transfer form, which is available from Equiniti.

Is stamp duty payable on the share transfer?

This is dependent on the nature of the share transfer. Guidelines about stamp duty are set out on the reverse of the share transfer form. If you require any further assistance contact Equiniti. A declaration concerning the application of stamp duty on the share transfer is set out on the reverse of the share transfer form and should be completed and signed by you before you return the form to Equiniti.

I want to hold Centrica shares for my children. How do I do this?

You can buy shares in your children's names but there may be legal complications when you come to sell the shares. Equiniti can give you more information.

My Centrica share certificate has been lost/stolen. What should I do?

If you lose your share certificate, or it has been stolen, you should inform Equiniti immediately. You can do this by calling the Centrica shareholder helpline on 0371 384 2985*. A record of the lost share certificate will be made to prevent it being used and a letter of indemnity will be sent to you to sign. This is to protect Centrica from the possible misuse of your certificate while it is not in your possession. A replacement share certificate will then be sent to you. There is a charge for this service, so we advise you to keep your share certificate in a safe and secure place.

*Calls to an 03 number cost no more than a national rate call to an 01 or 02 number. Lines open 8.30am to 5.30pm, Monday to Friday (UK time), excluding public holidays in England and Wales.

I haven't received my last dividend cheque. Who do I contact?

Please contact Equiniti, who can investigate the reason for non-receipt.

Can I have my Centrica dividends paid directly into my bank or building society account?

Yes, providing you complete, print and send this form and have it endorsed by your bank or building society.

Will I still get notification of dividend payments if they are paid direct into my bank account?

You will receive no concurrent postal notification of your dividend payments from Centrica. Instead, you will receive a personalised consolidated dividend confirmation, detailing all the dividend payments in the relevant tax year. These are mailed to you at the end of March each year, in time for you to complete your tax return. Dividend payment dates can be found here.

I have found an out-of-date dividend cheque. What can I do?

Centrica dividend cheques may be cashed within one year of issue. After this time they need to be reissued. You can do this by returning the cheque to Equiniti. There may be a fee for replacing the cheque. To avoid this problem, you should consider having your dividend cheques paid directly to your bank or building society account. This can be arranged by completing, printing and sending this form to Equiniti and have it endorsed by your bank or building society.

My partner or relative has passed away. What should I do about their shareholding?

Please contact Equiniti at the earliest opportunity and they will assist you with the documentation required. This may involve the small estates procedure or require a Grant of Probate and they will be able to make the process as straightforward as possible for you. View explanation of small estates procedure.

I am receiving two sets of Centrica communications. How can I stop this?

This may mean that you have shares registered in two accounts with slightly different details. Sometimes, if shares are purchased at different times, the registration details given to Equiniti might differ slightly on each occasion (e.g. Mr Paul A. Smith or Mr Paul Smith). This can result in our registrar opening two shareholder accounts. This in turn leads to a dividend cheque being issued in respect of each of the accounts each time a dividend is paid and in the duplication of other shareholder communications. If your shareholding is duplicated in this way, please complete and sign an account combination form and return it by post to Equiniti.

Are shareholder communications available in alternative formats?

If you would like to receive shareholder communications in alternative formats (large print, braille or audio tape), please register your name and address, shareholder account number and preferred format with Equiniti.

How do I sell my shares?

Some high street banks provide facilities for buying and selling shares or you can contact a stockbroker. Alternatively, Centrica has made arrangements with two independent share-dealing providers to offer all shareholders competitive charges. Please see the share dealing facilities section of our website for more details.

What do I do if I move house?

You should notify Equiniti in writing of changes, which you can do by completing a change of address form. If you hold shares in joint names, the request to change the address must be signed by the first-named shareholder. You can determine this from your share certificate or tax confirmation or by looking up your shareholding on the 'Shareview' service.

What do I do if I change my name or get married?

To ensure the details of your shareholding are correct on the register you should notify Equiniti in writing of any change to your name. You should also include a copy of your marriage certificate or change of name deed as evidence of your name change. If you need uncashed dividend cheques to be reissued in your new name, please also include them in your envelope.

FlexiShare

I hold Centrica shares and would like to transfer them into the FlexiShare service. How do I do this?
  1. complete the white spaces on the transfer form available on request from Equiniti
  2. sign the form where indicated and tear it off carefully;
  3. to elect how you want to receive your dividends, complete the box on the reverse of the form;
  4. enclose the form and your share certificate in the envelope; and
  5. return it to Equiniti Financial Services Limited, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA.
I've got shares in FlexiShare and I wish to transfer them, but the transferee wants to receive a share certificate.

For this, you will need to complete, sign and return the Request for share certificate in another name form available on request from Equiniti. There is an administration fee of £10.00 plus VAT for this service, if it is carried out more than six months after the shares were allocated to your FlexiShare account. Prior to this it is free.

I wish to transfer shares to my spouse or civil partner within the Centrica FlexiShare service. How do I do this?

Call the shareholder helpline and ask for the transfer form to transfer shares to another beneficial holder within the service. Once you have completed this form, return it to Equiniti and they will arrange to transfer your shares to your spouse or civil partner. 

I've been burgled and had all my paperwork relating to my FlexiShare holding stolen. What can I do?

You must inform Equiniti FS by telephone as soon as you get the opportunity and it will place a warning on the share register to protect your shareholding. But you will need to write to confirm the theft. Should you wish to sell the shares in the future you will also need to pay a small indemnity fee, in advance of the sale, in order that the appropriate action can be taken to allow the sale. In the meantime, you can check your holding on the Shareview website or request written confirmation from Equiniti FS.

Can I use any other broker with the FlexiShare service?

You can if you wish use a broker that has not been appointed by Centrica, but you will need to tell your broker that your shares are held in the FlexiShare service.

In the event that you wish to sell your shares via another broker, you have two options: transfer your shares direct to your broker or request a share certificate. Please discuss with your broker the preferred option and call the shareholder helpline for further details.

My spouse or civil partner also has Centrica shares in their own name. How do they join the service?

As outlined above, you should contact the shareholder helpline and request a Centrica FlexiShare transfer form for your spouse or civil partner to transfer shares into FlexiShare. 

I don't wish to stay in the Centrica FlexiShare service, how do I request a share certificate?

You have the right to withdraw from the FlexiShare service at any time. You should complete and return a transfer form, which is available from the shareholder helpline . Your instructions will take effect immediately upon receipt but will not affect the completion of any transactions already initiated. Unless you instruct us otherwise, any shares held in the plan will be transferred into a holding in your own name and you will be sent a share certificate. There is no charge if you decide to leave the service.

I'm trying to buy/sell shares but cannot find the reference/account number that I need to quote.

Please refer to either your statement of shareholding or dividend tax confirmation (if applicable) where the number will be quoted. If you are unable to locate any of this paperwork then Equiniti FS will arrange for a letter confirming the details to be sent to the address that we have for you on the share register. Unfortunately, Equiniti FS is unable to give you this information over the telephone.

Scrip Dividend Programme

What is the Scrip Dividend Programme (the Programme)?

The Programme offers shareholders the opportunity to receive new fully paid ordinary shares in the Company (New Shares) instead of cash dividends.

Why receive shares rather than cash?

The Programme will allow those shareholders who wish to participate the opportunity to increase their shareholding without incurring dealing charges and stamp duty. This is often an attractive option for shareholders who might otherwise receive a cash dividend of relatively small economic value. The Programme will also give the Company greater flexibility in managing its capital resources as it will be able to retain in the business the cash which would otherwise have been paid to participating shareholders who have elected to receive New Shares.

Who is eligible to join the Programme?

The Programme will be made available to all shareholders entered on the Register, including CREST members, subject to certain restrictions for shareholders resident outside the UK as set out below. The right to elect to join the Programme will not be transferable. Shareholders whose shares are held indirectly, such as through a nominee account, should contact the registered shareholder at the time the Programme is launched to determine if they can participate in the Programme.

Shareholders resident outside the UK

Shareholders who are resident outside the UK will be able to participate in the Programme provided that they do not live in, nor are subject to, the jurisdiction of any country where their participation in the Programme would require the Company to comply with local legal, governmental or regulatory requirements or procedures, or any similar formalities. Shareholders resident outside the UK will be responsible for ensuring that they may validly participate in the Programme and for observing all relevant local formalities.

How can shareholders join or leave the Programme?

If you hold your shares in either FlexiShare or Certificated form, please complete, sign and return the relevant Mandate Election Form(s).

If you wish to withdraw from the Programme, please complete a Scrip Dividend Revocation form and return it to Equiniti. To be effective, Equiniti need to receive your request no later than 4:30 pm on the published election date.

 

What will be the deadline for joining the Programme?

In order to be eligible to receive New Shares in respect of a particular dividend under the Programme, shareholders’ elections to participate must be received by Equiniti, (or, where applicable, input through CREST) no later than 4:30pm (UK time) on the election date.

The election date will not be more than 15 working days before the payment date for that dividend. Elections to participate in the Programme which are received after the election date deadline for any dividend will only apply to subsequent dividends. In that scenario the shareholder would receive a cash dividend in respect of the immediate dividend.

What will be the deadline for leaving the Programme?

Shareholders may opt out of the Programme at any time following its introduction. For each dividend where the Programme is to apply, the Company will set out a timetable for participation. This will include the latest date and time that shareholders may elect to opt out of the Programme and hence receive cash instead of New Shares. To opt out of the Programme in respect of a particular dividend, notice of the withdrawal must be received by Equiniti (or, where applicable, input through CREST) no later than 4:30pm (UK time) on the election date for that dividend. The election date will not be more than 15 working days before the payment date for that dividend. Elections to opt out of the Programme that are received after the election date deadline for any dividend will only apply to subsequent dividends. Shareholders would receive New Shares in respect of the immediate dividend.

Will former participants in the DRIP automatically be treated as having elected to participate in the Programme?

The DRIP has been cancelled following approval of the Programme at the 2015 AGM.

A new election will need to be made by each shareholder wishing to participate in the Programme.

Those shareholders who have elected to participate in the DRIP and do not wish to participate in the Programme may wish to contact Equiniti to arrange for cash dividends to be paid direct into a nominated bank account (if they haven’t done so previously). Otherwise, payments will be made by cheque.

What will happen to residual cash balances held under the DRIP?

DRIP participants who have cash residue entitlements held by the scheme administrator will have their residual cash balances repaid on cancellation of the DRIP.

Where will shareholders find details of the Programme?

All information including the dividend record date, ex-dividend date, scrip reference share price, election date and any further information announced is available online at centrica.com/dividends.

How many New Shares will shareholders receive under the Programme?

The number of New Shares that shareholders will acquire for each dividend will depend on the amount of the cash dividend to which they are entitled to and the scrip reference share price. Only whole shares may be issued and the number of shares that can be acquired will be rounded down to the nearest whole number of New Shares. Once the calculation has been made and shares allocated, any cash left over that is insufficient to acquire one New Share will be held as a residual cash balance (Residual Cash).

Residual Cash will be held until the next scrip dividend and added to the amount of cash available from that dividend.

Shares will be acquired according to the cash available and using the scrip reference share price to determine the value per share allocated. This will be the average of the middle market quotations for ordinary shares on the Daily Official List of the London Stock Exchange on the five consecutive dealing days beginning on, and including, the date on which the ordinary shares are first quoted ex-dividend.

What will happen to any Residual Cash?

Any Residual Cash remaining after the issue of New Shares, or which was insufficient to acquire a whole share, will be carried forward by the Company and included in the calculation for the next dividend entitlement under the Terms and Conditions of the Programme. No interest will accrue.

Further details of the treatment of Residual Cash balances is provided in the Terms and Conditions, available online at centrica.com/dividends.

How will shareholders be notified of how many New Shares they have received?

Once the New Shares have been issued, a scrip dividend statement will be sent to the shareholder along with a new share certificate or, if shares are held in FlexiShare, an account statement. The scrip dividend statement will show the number of New Shares issued, the scrip reference share price, and the total cash equivalent of the New Shares for tax purposes.

If the cash dividend entitlement, together with any Residual Cash entitlement brought forward, is insufficient to acquire at least one new share, the statement will explain that no New Shares have been issued and will show how much cash will be carried forward. CREST members will have their accounts credited directly with New Shares on the dividend payment date or as soon as practicable thereafter and will receive a scrip dividend statement as described above.

Will New Shares issued under the Programme be included in the next scrip dividend?

Yes. All New Shares issued under the Programme will automatically increase the shareholding on which the next entitlement to a scrip dividend will be calculated.

What happens if a shareholder buys or sells shares?

The entitlement will be calculated based on the number of shares registered in the shareholder’s name at the relevant record date. A shareholder’s election will be deemed to be cancelled in relation to any shares that are sold or transferred to another person, but only with effect from the registration of the relevant transfer.

Are there other circumstances in which an election will be deemed cancelled?

Yes. A shareholder’s election to participate will be deemed to be cancelled on receipt by Equiniti of proper notice of the shareholder’s death, bankruptcy or mental incapacity or, in the case of a corporate shareholder, of such body being placed in liquidation. However, where the shares are held jointly with others, participation in the Programme will continue for that shareholding.

Can shareholders participate in the Programme in respect of part of their holdings?

Shareholders may only elect to participate for the full number of shares registered in their name(s) on the relevant record date, unless permission is given by the Directors to allow the shareholder to elect in respect of a lesser number of shares.

What happens if a shareholder has more than one holding?

If shares are registered in more than one holding, each holding will require a separate Mandate Form.

Can the Company change or cancel the Programme?

Yes. The operation of the Programme is subject to the Directors’ decision to offer the Programme in respect of any particular dividend. The Directors may also, after such an offer is made, withdraw the offer generally at any time prior to the issue of New Shares under the Programme. The Programme may be modified, suspended or terminated at any time at the discretion of the Directors without notice to shareholders individually.

What are the tax consequences of taking part in the Programme?

The precise tax consequences of electing to receive New Shares instead of a cash dividend will depend on shareholders’ individual circumstances. A summary of the tax treatment, based on UK legislation and HM Revenue & Customs practice in place at the date that the Programme is introduced, is included in the full Terms and Conditions available online at centrica.com/dividends.

Shaerholder Centre
Manage Your Shares
Shareholder Centre
Dividend Information
Shareholder Centre
Taxation