Portugal Telecom, SGPS S.A. announced that the following amounts per share will be paid on 30 May 2014, as set out below:
Gross Amount Euro 0.10
Withholding Tax IRS/IRC (28%/25%)* Euro 0.028 / Euro 0.025
Net Amount Euro 0.072 / Euro 0.075
The ex-right date will be 27 May 2014, and the record date will be 29 May 2014.
Payment will be made through the Securities Clearing House pursuant to the terms of article 53 of the Regulation no. 3/2000 and Circular no. 1/2000, both of Interbolsa.
This statement is made in accordance with the Portuguese legislation and pursuant to the terms of the resolution of the General Meeting of Shareholders held on 30 April 2014.
The final withholding tax rate shall be 35% of the amounts placed at the disposal of:
- (1) omnibus accounts, except where the identity of the effective beneficiary is disclosed and
- (2) nonresident entities without a permanent establishment in Portuguese territory, which are domiciled in a country, territory or region subject to favorable tax regime, according to the list approved by Decree of the Ministry of Finance.
For the purpose of benefiting of tax exemption, reduction or non-applicability of withholding obligations regarding income taxation, shareholders entitled to such exemption and benefits should demonstrate and evidence all the relevant facts and information required for the discharge or reduction of the withholding obligation, to the financial institution in which the respective shares are registered.
Dividends paid to shareholders resident in Portugal and taxable for IRS (Portuguese Personal Income Tax) are subject to a final tax rate of 28%, unless these shareholders elect to include the dividends (50% of the amount) in the income subject to the marginal Personal Income Tax rates.