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ANHEUSER-BUSCH INBEV SA/NV - Notice of Dividend Currency Exchange Rate

Release Date: 14/11/2016 16:32
Code(s): ANH     PDF:  
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Notice of Dividend Currency Exchange Rate

Anheuser-Busch InBev SA/NV
(Incorporated in the Kingdom of Belgium)
Register of Companies Number: 0417.497.106
Euronext Brussels Share Code: ABI
Mexican Stock Exchange Share Code: ANB
NYSE ADS Code: BUD
JSE Share Code: ANH
ISIN: BE0974293251
(“AB InBev”)

Notice of Dividend Currency Exchange Rate

Shareholders are referred to the announcement issued on 28 October 2016 wherein it was announced that
the AB InBev board has approved an interim dividend of 1.60 EUR per share for the fiscal year 2016.

Dividend currency exchange rate
The dividends payable to shareholders whose shares are held through Central Securities Depository
Participants (“CSDPs”) and brokers and are traded on the Johannesburg Stock Exchange (“JSE”) are payable in
South African Rand. The applicable currency exchange rate is set out below.

   Gross Dividend per             EUR/ZAR Exchange rate            Gross Dividend per ordinary share
  ordinary share (Euro)                                                  (South African cents)
         €1.60                           15.27850                             2444.56000

South African income tax and dividends tax consequences
The interim dividend should be regarded as a ‘foreign dividend’ for South African income tax and dividends tax
purposes.

Foreign dividends received in respect of shares which are dual listed on the JSE are, however, exempt from
income tax. Consequently, no South African income tax should be incurred by the shareholders in respect of
the interim dividend received.

The interim dividend may, however, be subject to South African dividends tax at 15%. There is though,
amongst others, an exemption from South African dividends tax if the dividend is paid to a South African
resident corporate shareholder. This exemption operates in a manner similar to other local shares listed on
the JSE and the dividends paid in respect thereof to resident corporate shareholders and retirement funds.
Intermediaries may only allow an exemption from South African dividends tax, provided shareholders have
completed and lodged a valid exemption form, which is obtainable from their intermediary.

Belgian withholding tax
The gross amount of the interim dividend will as a rule be subject to a Belgian withholding tax of 27%. Such
withholding tax can under certain circumstances be reduced.

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Belgian dividend withholding tax can be reduced to 15% pursuant to the Belgian-South African double tax
treaty in force. Such reduced rate can be applied provided that Form N°/NR. 276 Div.-Aut. is filed by the
shareholder with the Bureau Central de Taxation de Bruxelles-Etranger, boulevard du Jardin Botanique 50
boîte 3429, 1000 Brussels, Belgium (hereinafter the “Central Bureau of Taxation”) before the expiry of a period
of five years from January 1st of the year in which the withholding tax was paid, in which case the differential
between the standard withholding tax rate of 27% and the reduced treaty rate of 15% will be reimbursed. An
explanatory note is available through this link, or through the Belgian Tax authorities’ official website:
https://eservices.minfin.fgov.be/myminfin-finform/AppelPdfExt?id=2575. The current version of Form N°/NR.
276 Div.-Aut. is available through this link, or through the Belgian Tax authorities’ official website:
https://eservices.minfin.fgov.be/myminfin-finform/AppelPdfExt?id=2599.

A reduced Belgian withholding tax of 1.6995 % is also applicable to dividends paid to South African corporate
shareholders that hold a participation of less than 10% in the capital of Anheuser-Busch InBev NV/SA but with
an acquisition value of at least €2.5 million. This regime is subject to the cumulative conditions that (i) the
company has a legal form considered similar to the ones listed in Annex I, Part A, to the Council Directive
2011/96/EU of 30 November 2011 on the common system of taxation applicable in the case of parent
companies and subsidiaries of different Member States, as amended by Directive 2014/863/EU of 8 July 2014;
(ii) it is subject to corporate income tax or a similar tax without benefiting from a tax regime that deviates
from the ordinary domestic tax regime; (iii) the dividends relate to Anheuser-Bush InBev NV/SA shares which it
has held or will hold in full legal ownership for an uninterrupted period of at least one year; and (iv) it cannot
in principle credit the Belgian withholding tax paid on the Anheuser-Bush InBev NV/SA dividends or obtain a
refund thereof according to the legal provisions in force on December 31 of the year preceding the year of the
payment or attribution of the dividends.

In order to benefit from this reduced withholding tax, the shareholder must provide the Central Bureau of
Taxation with a South African residency certificate confirming that it fulfils the above mentioned conditions
and indicating to what extent the Belgian withholding tax is in principle creditable or reimbursable on the
basis of the South African laws applicable on 31 December of the year preceding the one during which the
interim dividend is paid or attributed.

South African dividends tax rebate in respect of Belgian withholding tax
A rebate must, for South African dividends tax purposes, be deducted from any South African dividends tax
payable in respect of the interim dividend (i.e. where no exemption is available). This rebate will be equal to
the amount of any Belgian withholding tax paid in respect of the interim dividend, without any right of
recovery, and must not exceed the amount of the South African dividends tax imposed in respect of the
interim dividend.

The CSDPs and/or brokers, in their capacity as the regulated intermediaries, must obtain proof of any Belgian
withholding tax paid and deducted from the South African tax payable, as above, in the form and manner
prescribed by the South African Revenue Service.




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Additional information required by the JSE Listings Requirements
The payment of the dividend will be subject to South African dividends tax (unless a shareholder qualifies for
an exemption) at the rate of 15%. Any shareholder who receives a dividend which is subject to South African
dividends tax (i.e. where no exemption is available) will qualify for a full rebate. The net result is that any
dividend will ultimately only be subject to Belgian withholding tax at the rate of 27% (as above), and not
subject to South African dividends tax. The Belgian withholding tax, which exceeds the maximum rate of 15%
in terms of the double tax treaty note above, may be claimed in accordance with the relevant reimbursement
process.

The gross dividend per ordinary share is 2444.56000 SA cents. Belgian withholding tax at the rate of 27%
(equaling 660.03120 SA cents per ordinary share) will be withheld from the gross dividend paid to
shareholders. After the Belgian withholding tax has been withheld, the net dividend paid will be 1784.52880
SA cents per ordinary share.

At Friday, 28 October 2016, being the declaration date of the dividend, the Company had a total of
1,934,241,973 ordinary shares in issue (excluding treasury shares). The Company held 85,000,000 ordinary
shares in treasury giving a total issued share capital of 2,019,241,973 ordinary shares.

No transfers of shareholdings to and from South Africa will be permitted between Monday, 14 November
2016 and Friday, 18 November 2016 (both dates inclusive).

According to Belgian Law, the interim dividend will be paid out of the profits of the current year, increased
with the profits carried over, without drawing on any reserves. It is payable on Monday, 21 November 2016.

For the avoidance of doubt, the income tax and dividends tax information provided above is only relevant to
shareholders whose shares are held through CSDPs and brokers and are traded on the JSE.

Please direct any queries to the Company’s Transfer Secretaries in South Africa:
Computershare Investor Services (Pty) Limited
70 Marshall Street
Johannesburg 2001
Postal Address – PO Box 61051
Marshalltown 2107
Telephone +27 11 370 5000
Facsimile +27 11 688 5200
Email enquiries: web.queries@computershare.co.za

14 November 2016
JSE Sponsor: Deutsche Securities (SA) Proprietary Limited




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Date: 14/11/2016 04:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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