Spirax Group makes steam systems, industrial electric heaters, pumps and tubing. Factories use its steam equipment for heating, cooking, drying, cleaning and sterilising.
What you get
EQ lists Spirax Group for EQ Boost. If the election is available for your holding, you can use dividends to buy retailer e-vouchers worth more than the cash spent. Extra value varies by retailer.
What it takes
The published terms do not state a minimum shareholding.
You spend your own dividend money. Choosing EQ Boost replaces the dividend instruction Equiniti holds for that holding, including any dividend reinvestment or scrip instruction. The whole dividend goes to EQ Boost, and you cannot top up the account with other money.
Before buyingA perk is a minor benefit of owning a share, not a reason to buy one. Share prices fall as well as rise, and dealing costs, spreads and tax can exceed a perk’s value. Read about the risks.
Holding through a broker
EQ excludes ordinary broker nominees but generally allows company-sponsored nominees. Spirax does not identify a company-sponsored nominee that can elect EQ Boost. Ask Equiniti whether your holding qualifies.
Other conditions
- Age and residency
- You must be over 18. EQ’s terms appear to limit the service to UK residents; if you live elsewhere, ask Equiniti before you apply.
- Excluded holders
- Corporate shareholders; executors and administrators acting for deceased shareholders
- Joint holdings
- The account opens in the first-named holder’s name. They must have permission to create it, and withdrawals go to a bank account in their name.
How to claim
You need your shareholder reference to register for Shareview. EQ Boost also asks for your date of birth and an email address that no other EQ Boost account uses.
- 1. Check your Spirax Group dividend electionOpen your Spirax holding’s Dividend Election page in Shareview Portfolio. If EQ Boost appears, select it before EQ’s deadline and follow the activation email. If EQ Boost or your holding does not appear, ask Equiniti.
- 2. Buy vouchers after a dividend arrivesSign in to EQ Boost and check the current retailer offers before buying.
Dates
The published terms do not say how long you must hold the shares.
- Qualifying date
- Check the record date in Spirax’s announcement for the dividend you want to redirect.
- Claim deadline
- Choose EQ Boost at least 15 working days before the dividend payment date, unless EQ states another deadline. A late instruction takes effect for a later dividend.
- Expiry
- Each retailer sets its voucher expiry and spending rules.
Practical notes
Spirax-Sarco Engineering is the former name
The group introduced the Spirax Group name in February 2024 to distinguish it from its Spirax Sarco trading division. It said the rebrand and proposed legal name change would not affect shareholders’ holdings. Older documents may still use Spirax-Sarco Engineering.
Voucher and account risks
Vouchers are in sterling. If a retailer goes out of business, you could lose the value of its unspent vouchers. EQ Boost is not regulated by the Financial Conduct Authority (FCA), and money in the account has no Financial Services Compensation Scheme protection. If Equiniti Financial Services Limited holds your shares, the dividend loses FCA client-money protection when it moves to EQ Boost.
Changing back to cash
You can withdraw unspent money to a UK bank account in the account holder’s name. To stop future dividends going to EQ Boost, change the election by the same deadline shown above. A late change may send one more dividend to EQ Boost.