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Dividend for the quarter ended 30 June 2016 - Salient dates and tax treatment
ARROWHEAD PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2011/000308/06)
JSE share code: AWA ISIN: ZAE000203105
(Approved as a REIT by the JSE)
(“Arrowhead” or “the company”)
DIVIDEND FOR THE QUARTER ENDED 30 JUNE 2016 - SALIENT DATES AND TAX TREATMENT
The board of directors has approved and notice is hereby given of a gross cash dividend (dividend number 19) of
20.87500 cents per ordinary share for the quarter ended 30 June 2016, in accordance with the salient dates set out below:
2016
Last date to trade cum dividend Tuesday, 30 August
Shares trade ex dividend Wednesday, 31 August
Record date Friday, 2 September
Payment date Monday, 5 September
Share certificates may not be dematerialised or rematerialised between Wednesday, 31 August 2016 and Friday,
2 September 2016, both days inclusive.
Payment of the dividend will be made to shareholders on Monday, 5 September 2016. In respect of dematerialised shares,
the dividend will be transferred to the CSDP accounts/broker accounts on Monday, 5 September 2016. Certificated
shareholders’ dividend payments will be deposited on or about Monday, 5 September 2016.
TAX TREATMENT
In accordance with Indluplace’s status as a REIT, shareholders are advised that the dividend meets the requirements of a
“qualifying distribution” for the purposes of section 25BB of the Income Tax Act, No. 58 of 1962 (“Income Tax Act”).
The distribution on shares will be deemed to be a dividend, for South African tax purposes, in terms of section 25BB of
the Income Tax Act.
The dividend received by or accrued to South African tax residents must be included in the gross income of such
shareholders and will not be exempt from income tax (in terms of the exclusion to the general dividend exemption,
contained in paragraph (aa) of section 10(1)(k)(i) of the Income Tax Act) because they are dividends distributed by a
REIT. This dividend is, however, exempt from dividends withholding tax in the hands of South African tax resident
shareholders, provided that the South African resident shareholders provided the following forms to their Central
Securities Depository Participant (“CSDP”) or broker, as the case may be, in respect of uncertificated shares, or the
company, in respect of certificated shares:
a) a declaration that the dividend is exempt from dividends tax; and
b) a written undertaking to inform the CSDP, broker or the company,
as the case may be, should the circumstances affecting the exemption change or the beneficial owner cease to be the
beneficial owner, both in the form prescribed by the Commissioner for the South African Revenue Service. Shareholders
are advised to contact their CSDP, broker or the company, as the case may be, to arrange for the abovementioned
documents to be submitted prior to payment of the dividend, if such documents have not already been submitted.
Dividends received by non-resident shareholders will not be taxable as income and instead will be treated as dividends
which are exempt from income tax in terms of the general dividend exemption in section 10(1)(k)(i) of the Income Tax
Act. It should be noted that up to 31 December 2013 dividends received by non-residents from a REIT were not subject to
dividend withholding tax. From 1 January 2014, any dividend received by a non-resident from a REIT is subject to
dividend withholding tax at 15%, unless the rate is reduced in terms of any applicable agreement for the avoidance of
double taxation (“DTA”) between South Africa and the country of residence of the shareholder. Assuming dividend
withholding tax will be withheld at a rate of 15%, the net distribution amount due to non-resident shareholders is
17.74375 cents per ordinary share. A reduced dividend withholding rate in terms of the applicable DTA, may only be
relied on if the non-resident shareholder has provided the following forms to their CSDP or broker, as the case may be, in
respect of uncertificated shares, or the company, in respect of certificated shares:
a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and
b) a written undertaking to inform their CSDP, broker or the company,
as the case may be, should the circumstances affecting the reduced rate change or the beneficial owner cease to be the
beneficial owner, both in the form prescribed by the Commissioner for the South African Revenue Service. Non-resident
shareholders are advised to contact their CSDP, broker or the company, as the case may be, to arrange for the
abovementioned documents to be submitted prior to payment of the distribution if such documents have not already been
submitted, if applicable.
Ordinary shares in issue at the date of declaration of this dividend: 1 025 893 790
Arrowhead’s income tax reference number: 9779/439/15/8
16 August 2016
Sponsor
Java Capital
Date: 16/08/2016 05:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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