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SATRIX COLLECTIVE INVESTMENT SCHEME - STX40 - Distribution finalisation announcement - quarter ended 31 December 2013

Release Date: 17/01/2014 08:30
Code(s): STX40
 
Wrap Text
STX40 - Distribution finalisation announcement - quarter ended 31 December 2013

SATRIX 40 PORTFOLIO
JSE code: STX40
ISIN code: ZAE000027108
("Satrix 40")

A portfolio in the Satrix Collective Investment Scheme, registered
as such in terms of the Collective Investment Schemes Control Act,
45 of 2002

DISTRIBUTION FINALISATION ANNOUNCEMENT – QUARTER ENDED 31 DECEMBER
2013

The manager and trustees of the Satrix Collective Investment Scheme
(being Satrix Managers (RF) (Pty) Limited and Standard Chartered
Bank), respectively, have declared a distribution to holders of
Satrix 40 securities recorded in the register on Friday, 27 December
2013 in respect of the quarter ended 31 December 2013 as follows:

An aggregate amount of 13.10000           cents   (R0.13100)     per   Satrix   40
security constituted as follows:

      Net Local dividend per security (1)              8.39511
      Dividend withholding tax on local                1.27166
      dividend (15%)
      Net Foreign dividend per security (2)            2.44434
      Dividend withholding tax on foreign              0.43135
      dividend (15%)
      Foreign dividend (0% SA tax) (3)                 0.26154
      Interest                                         0.07448
      Other                                            0.22152
      TOTAL DISTRIBUTION                              13.10000

  1   NET LOCAL DIVIDEND
      Gross dividend (cents per security)              9.66677
      Gross STC credits                               -1.18905
                                                       8.47772
      Dividend withholding tax (15% on                 1.27166
      taxable dividend)


      Gross dividend (cents per security)              9.66677
      Dividend withholding tax (15% on                -1.27166
      taxable dividend)
      Net dividend per security                        8.39511

  2   NET FOREIGN DIVIDEND (Foreign-dual
      listed shares)
      Gross dividend (cents per security)              2.87569
      Dividend withholding tax (15% on                -0.43135
      taxable dividend)
      Net dividend per security                        2.44434
     3   NET FOREIGN DIVIDEND NOT TAXED (S64N
         rebate)
         Gross dividend                                0.44701
         Foreign Dividends withholding tax            -0.08940
         (20%)
         Gross dividend received by portfolio          0.35761
         Less portfolio costs                         -0.09607
         Distributable dividend                        0.26154


         SA Dividend withholding tax
         Gross dividend                                0.44701
         Less portfolio costs                         -0.09607
                                                       0.35094


         SA DWT                                        0.05264


         SA tax 0.05264 cents (15%) will not be deducted as
         foreign dividend withholding tax has already been
         deducted (SECTION 64N).


The dividend tax deducted will be paid as follows:

1.       To the South African Revenue Service in respect of holders
         that are not exempt from dividends tax;
2.       Holders that are exempt from dividends tax or holders
         qualifying for a reduced rate per Double Tax Agreement (“DTA”)
         will receive the appropriate dividend from their intermediary
         provided they have completed and lodged the relevant exemption
         or reduced rate prescribed application form timeously with
         their service provider. The responsibility to make such
         submissions is that of the security holder and failure to do
         so may result in dividends tax being deducted in full.

The payment will be made by the relevant intermediary, being the
Central Securities Depository Participant (“CSDP”) or Broker nominee
company which is the final regulated intermediary in terms of the
Income Tax Act.

Payment will be effected on Friday, 24 January 2014 to all holders
of Satrix 40 securities recorded in the register on Friday, 27
December 2013.

17 January 2014

Sponsor:
Vunani Corporate Finance

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