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Update to cash dividend declaration and change in the dividend withholding tax rate
HOSPITALITY PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
JSE share code: HPB ISIN: ZAE000214656
(Approved as a REIT by the JSE)
(“Hospitality” or “the company”)
UPDATE TO CASH DIVIDEND DECLARATION AND CHANGE IN THE DIVIDEND WITHHOLDING TAX RATE
Shareholders are referred to unaudited condensed consolidated interim results for the six months ended
31 December 2016 and cash dividend declaration announcement published on SENS 10 February 2017,
wherein shareholders were advised of gross dividend payment number 22 of 56.090 cents per ordinary share
for the four-month period ended 31 December 2016. Shareholders are advised that the gross dividend
amount to five decimal places is 56.09002 cents per share.
Shareholders are further advised that following the Budget Speech delivered by the Minister of Finance,
Pravin Gordhan, on 22 February 2017 wherein the dividends withholding tax rate was increased from 15%
to 20%, the draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill has amended section
64E of the Income Tax Act No. 58 of 1962 and the increased dividends withholding tax of 20% applies in
respect of any dividend paid on or after 22 February 2017.
Non-resident shareholders are accordingly advised that the net dividend amount due to non-resident
shareholders 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 is 44.87202 cents
per ordinary share and not 47.67650 cents per ordinary share as previously disclosed. The tax position in
respect of the dividend received by or accrued to South African tax residents remains unchanged.
The salient dates and times and other information provided in respect of the dividend declaration announced
on 10 February 2017 remain unchanged.
24 February 2017
Sponsor
Java Capital
Date: 24/02/2017 05:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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