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Dividend for the quarter ended 31 December 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 31 DECEMBER 2016 - SALIENT DATES AND TAX TREATMENT
The board of directors has approved and notice is hereby given of a gross cash dividend (dividend number
21) of 21.41000 cents per ordinary share for the quarter ended 31 December 2016, in accordance with the
salient dates set out below:
2017
Last date to trade cum dividend Tuesday, 14 March
Shares trade ex dividend Wednesday, 15 March
Record date Friday, 17 March
Payment date Monday, 20 March
Share certificates may not be dematerialised or rematerialised between Wednesday, 15 March 2017 and
Friday, 17 March 2017.
Payment of the dividend will be made to shareholders on Monday, 20 March 2017. In respect of
dematerialised shares, the dividend will be transferred to the CSDP accounts/broker accounts on Monday,
20 March 2017. Certificated shareholders’ dividend payments will be deposited on or about Monday,
20 March 2017.
In accordance with Arrowhead’s status as a REIT, shareholders are advised that the dividend meets the
requirements of a “qualifying distribution” for purposes of section 25BB of the Income Tax Act, No. 58 of
1962 (“Income Tax Act”). The distribution on the 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 distributions 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 dividend amount due to non-resident shareholders is 18.19850 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 dividend if such documents have not
already been submitted, if applicable.
Ordinary shares in issue at the date of declaration of this dividend: 1 037 915 775 Arrowhead’s income tax
reference number: 9779/439/15/8
22 February 2017
Sponsor
Java Capital
Date: 22/02/2017 08:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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