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Dividends

 

 

On 29 April 2014, the Annual General Meeting of Shareholders of TEO LT, AB (code 121215434, registered address: Lvovo str. 25, Vilnius, Lithuania) decided to allocate the Company’s profit for the year 2013 and to pay out 0.19 litas dividend per share.

 

Dividends are paid to the shareholders who at the end of the tenth business day following the day of the Annual General Meeting that adopted a decision on dividend payment, i.e. on 14 May 2014 were shareholders of TEO LT, AB.

 

From 28 May 2014 the dividends paid out in the following order:

 

- to the shareholders, whose TEO LT, AB shares are accounted by a financial brokerage company or credit institutions, which provide securities accounting services, the dividend amount, after deduction of Personal or Corporate withholding income tax applicable by the laws of Lithuania, will be transferred to the shareholders’ accounts held with a respective financial brokerage company or credit institution;

 

- to the shareholders, whose TEO LT, AB shares on behalf of the Company are accounted by the authorised custodian AB SEB Bank, the dividend amount, after deduction of Personal or Corporate withholding income tax applicable by the laws of Lithuania, will be transferred to the shareholders’ accounts with AB SEB Bank or the accounts with any other Lithuanian commercial bank as indicated by the shareholders (requests with account indications should be submitted to any branch of SEB Bank).

 

Dividends paid in 2014 will be taxed as follows:

 

- dividends paid to natural persons–residents of the Republic of Lithuania and natural persons–residents of foreign countries are subject to withholding Personal income tax of 15 per cent;

 

- dividends paid to legal entities of the Republic of Lithuania and legal entities–residents of foreign countries are subject to withholding Corporate income tax of 15 per cent, unless otherwise provided for by the laws.

 

Residents of the foreign countries, which have concluded agreements on Avoidance of Double Taxation with the Republic of Lithuania, could take advantage of reduced tariffs provided by such agreements by submitting Claim for Reduction or Exemption from the Anticipatory Tax Withheld at Source, form FR0021 (DAS-1).  The form should be completed following the law requirements and presented to SEB Bank together with the broker’s confirmation by 23 May 2014.

 

For additional information on payout of the dividends please contact AB SEB Bank by phone +370 5 268 1528.