The number of acres planted with peanuts increased by 27 percent in 2014 and by 20 percent in 2015, and ending stocks (the quantity of peanuts remaining in storage at the end of the crop year) for 2016 are projected to be slightly less than the record-high peanut stocks at the end of 2005. Motivated by a high peanut PLC support price, growers have disproportionately planted peanuts on generic base acres to collect larger payments. Arguments in this option’s favor relate to removing such potential distortions, particularly as they relate to peanuts. Linking payments on generic base acres to current (rather than historical) planting decisions is a departure from previous farm support programs, which had sought to decouple support payments from planting decisions to limit subsidies that may distort agricultural markets. The Congressional Budget Office estimates that savings under this option would be $4 billion through 2026. Because of its likely effects on peanut planted acres, the option also would, starting in 2019, lead to lower outlays for the government’s peanut marketing loan program. Most savings from eliminating ARC and PLC payments on generic base acres would begin in fiscal year 2020, when ARC and PLC payments for the 2018 crop year would be made. Finally, the 2014 law assigned upland cotton base acres to a new category called generic base acres and allows for ARC and PLC payments on generic base acres if producers plant a covered commodity on those acres.īeginning in crop year 2018, this option would eliminate ARC and PLC payments on generic base acres. The law also removed upland cotton from the list of commodities eligible for payments available to producers with base acres (those acres with a proven history of being planted with covered commodities established with the Department of Agriculture under statutory authority granted by previous farm bills). in its capacity as depositary bank for the British American Tobacco American Depositary Receipt (“ADR”) programme in respect of each quarterly dividend payment.The Agricultural Act of 2014 replaced the existing agricultural support programs with the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs. A fee of US$0.005 per ADS will be charged by Citibank, N.A. The equivalent quarterly dividends receivable by holders of ADSs in US dollars will be calculated based on the exchange rate on the applicable payment date. For the purposes of South Africa Dividends Tax reporting, the source of income for the payment of the quarterly dividends is the United Kingdom.įor holders of ADSs listed on the New York Stock Exchange (NYSE), the record dates and payment dates are set out below. The quarterly dividends are regarded as ‘foreign dividends’ for the purposes of the South Africa Dividends Tax. In accordance with the JSE Limited (JSE) Listing Requirements, the finalisation information relating to shareholders registered on the South Africa branch register (comprising the amount of the dividend in South African rand, the exchange rate and the associated conversion date) will be published on the dates stated below, together with South Africa dividends tax information. The quarterly dividends are paid to shareholders registered on either the UK main register or the South Africa branch register and to holders of American Depositary Shares (ADSs), each on the applicable record dates set out under the heading ‘Key Dates’ below. On 9 February 2023, the Company announced that the Board had declared an interim dividend of 230.9p per ordinary share of 25p, payable in four equal quarterly instalments of 57.72p per ordinary share in May 2023, August 2023, November 2023 and February 2024.
0 Comments
Leave a Reply. |