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Distribution and re-investment announcement for April 2015 and salient dates for May 2015 - STXRAF
Satrix Managers (RF) (Pty) Ltd
SATRIX RAFI 40
JSE code: STXRAF
ISIN: ZAE000126033
A portfolio in the Satrix Collective Investment Scheme (“Satrix”),
registered as such in terms of the Collective Investment Schemes Control
Act, 45 of 2002.
DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR APRIL 2015 AND SALIENT
DATES FOR MAY 2015
Investors are advised that the Manager and Trustee of Satrix (being
Satrix Managers (RF) Proprietary Limited and Standard Chartered Bank,
respectively) have declared a distribution to holders of Satrix RAFI 40
securities recorded in the register on Friday, 24 April 2015 in respect
of the month of April 2015 as follows:
An aggregate amount of 12.03 cents (R 0.1203) per Satrix RAFI 40 security
constituted as follows:
Net Local dividend per security (1) 6.63921
Dividend withholding tax on local dividend (15%) 1.16697
Net Foreign dividend per security (2) 3.10669
Dividend withholding tax on foreign dividend (15%) 0.54824
Net Foreign dividend not taxed (0% SA tax) (3) 0.22816
Net REIT income (4) 0.28365
Withholding tax on REIT (foreign holders only) (15%) 0.05006
Interest (positive cash balances)(a)? 0.00702
TOTAL DISTRIBUTION 12.03000
a No withholding tax on interest is applicable as interest
has solely been earned from a South African Bank.
1 NET LOCAL DIVIDEND
Gross dividend (cents per security) 7.80618
Gross STC credits -0.02639
7.77979
Dividend withholding tax (15% on taxable dividend) - 1.16697
Gross dividend (cents per security) 7.80618
Dividend withholding tax (15% on taxable dividend) - 1.16697
Net dividend per security 6.63921
2 NET FOREIGN DIVIDEND (Foreign-dual listed shares)
Gross dividend (cents per security) 3.65493
Dividend withholding tax (15% on taxable dividend) - 0.54824
Net dividend per security 3.10669
3 NET FOREIGN DIVIDEND NOT TAXED (s64N rebate)
Gross dividend (cents per security) 0.30066
Foreign Dividends withholding tax (20%) -0.06013
Gross Dividend received by portfolio 0.24053
Less portfolio costs -0.01237
Distributable dividend 0.22816
SA Dividend withholding tax
Gross dividend 0.30066
Less portfolio costs -0.01237
0.28829
SA DWT 0.04324
SA tax cents (15%) will not be deducted as foreign
dividend withholding tax has already been deducted
(Section 64N)
4 NET REIT INCOME
Gross REIT income 0.33371
Withholding tax on interest (15%) -0.05006
Net REIT income 0.28365
Withholding tax on interest of 15% is applicable for
non-resident shareholders on the REIT income
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 made in respect of holders recorded in the register on
Friday, 24 April 2015 and be effected on 12 May 2015.
In accordance with the investment policy of Satrix RAFI 40 the
distribution (excluding the dividends tax as detailed above) will be re-
invested on behalf of investors through the purchase of securities
comprising the FTSE/JSE RAFI 40 Index in accordance with the calculation
methodology of the total return version of this Index, thereby increasing
the net asset value of Satrix RAFI 40 and, proportionately, each Satrix
RAFI 40 security.
The distribution (excluding the dividend tax as detailed above) will:
- where Satrix RAFI 40 securities are held on capital account be added
to the base cost of each Satrix RAFI 40 security for capital gains
tax purposes; or
- where Satrix RAFI 40 securities are held as trading stock be
regarded as part of the cost of acquiring a Satrix RAFI 40 security.
SALIENT DATES FOR MAY 2015:
Notice is hereby given that the following dates are of importance in
regard to a possible monthly distribution for the month of May 2015 by
the ETF to holders of Satrix Rafi 40 securities:
Last day to trade “cum” distribution: Friday, 22 May 2015
Securities trade “ex” distribution: Monday, 25 May 2015
Record date: Friday, 29 May 2015
Announcement of distribution amount Thursday, 4 June 2015
for May 2015, together with salient
dates for June 2015 by:
Sandton
5 May 2015
Sponsor:
Vunani Corporate Finance
Manager:
Satrix Managers (RF) Proprietary Limited
Date: 05/05/2015 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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