To view the PDF file, sign up for a MySharenet subscription.

SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter Ended 30 September 2016 - STXDIV

Release Date: 07/10/2016 11:45
Code(s): STXDIV     PDF:  
Wrap Text
Distribution Finalisation Announcement – Quarter Ended 30 September 2016 - STXDIV

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX DIVIDEND PLUS PORTFOLIO
JSE code: STXDIV
ISIN: ZAE000102018
("Satrix Dividend Plus")

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 30 SEPTEMBER 2016

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 Dividend
Plus securities recorded in the register on Friday, 30 September 2016 in
respect of the quarter ended 30 September 2016 as follows:

An aggregate amount of         1.99   cents   (R0.0199)   per   Satrix   Divi    security
constituted as follows:

        Net Local dividend per security (1)                                       1.41497
        Dividend withholding tax on local dividend (15%)                          0.24970
        Net Foreign dividend per security (2)                                     0.19124
        Dividend withholding tax on foreign dividend (15%)                        0.03375
        Foreign dividend (0% SA tax)(3)                                           0.07621
        Interest (positive cash balances) (a)                                     0.02413
        TOTAL DISTRIBUTION                                                        1.99000


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)                                       1.66467
        Dividend withholding tax (15% on taxable dividend)                      - 0.24970
        Net dividend per security                                                 1.41497

2       NET FOREIGN DIVIDEND (Foreign-dual listed shares)

        Gross dividend (cents per security)                                       0.22499
        Dividend withholding tax (15% on taxable dividend)                      - 0.03375
        Net dividend per security                                                 0.19124



    3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

        Gross dividend                                                            0.14390
        Foreign Dividends withholding tax                                       - 0.05036
                                                                                  0.09354
        Less portfolio costs                                                    - 0.01733
        Distributable dividend                                                    0.07621
     
        SA Dividend withholding tax
        Gross dividend                                                            0.14390
        Less portfolio costs                                                    - 0.01733
                                                                                  0.12657

        SA DWT                                                                    0.01899


     SA tax 0.01899 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 12 October 2016 to all holders of Satrix
Dividend Plus securities recorded in the register on Friday, 30 September
2016.


7 October 2016

Sponsor:
Vunani Corporate Finance

Date: 07/10/2016 11:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story