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SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter End 30 September 2017-STXDIV

Release Date: 29/09/2017 10:30
Code(s): STXDIV     PDF:  
Wrap Text
Distribution Finalisation Announcement Quarter End 30 September 2017-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 in Securities, registered as such in terms of the
Collective Investment Schemes Control Act, 45 of 2002.

DISTRIBUTION FINALISATION ANNOUNCEMENT QUARTER END 30 SEPTEMBER 2017

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("investors")recorded in the register on Friday, 29 September 2017 in respect of
the quarter ended 30 September 2017.

An aggregated amount of 2.48000 ZAR cents (R 0.02480) per Dividend Plus security is declared as follows:
  Alpha         Dividend/     Foreign        Source                Gross        Subject to    Withholding        Net
  code           Interest     / Local          of              Distribution     Withholding     Tax (%)     Distribution
                                              funds             (Cents per      tax Yes/ No                  (Cents per
                                                                   unit)                                        unit)

STXDIV           Interest      Local                                  0.02024         No                          0.02024
                 Dividend      Local                                  2.26292        Yes         20               1.81034
                 Dividend     Foreign    United Kingdom               0.19684        Yes         20               0.15747
                                dual
                                                                      2.48000                                     1.98805

Notice is hereby given that the following dates are of importance in regard to the distribution for the
month of September 2017 by the ETF to holders of Satrix Dividend Plus securities:

 Last day to trade “cum” distribution:                    Tuesday,26 September 2017
 Securities trade “ex” distribution:                      Wednesday,27 September 2017
 Record date:                                             Friday,29 September 2017
 Payment date:                                            Wednesday 4, October 2017

The distribution will be paid on Wednesday, 4 October 2017 to all securities holders recorded in the
register on Friday, 29 September 2017.

Withholding Tax on Interest (WTI) came into effect on 1 March 2015.

Interest accruing from a South African source to a non-resident, excluding a controlled foreign company,
will be subject to withholding tax at a rate of 15% on payment, except interest,

  • arising on any Government debt instrument
  • arising on any listed debt instrument
  • arising on any debt owed by a bank or the South African Reserve Bank
  • arising from a bill of exchange or letter of credit where goods are imported into South Africa and
  where an authorized dealer has certified such on the instrument
  • payable by a headquarter company
  • accruing to a non-resident natural person who was physically present in South Africa for a period
  exceeding 183 days in aggregate, during that year, or carried on a business through a permanent
  establishment in South Africa

Investors are advised that to the extent that the distribution amount comprise of any interest, it will not
be subject to WTI by virtue of the fact that it is listed debt instruments and/or bank debt.

 No dividend withholding tax will be deducted from dividends payable to a South African tax resident
 qualifying for exemption from dividend withholding tax provided that the investor has provided the
 following forms to their Central Securities Depository Participant (“CSDP”) or broker, as the case may
 be in respect of its participatory interest:
 a) a declaration that the distribution is exempt from dividends tax; and
 b) a written undertaking to inform their CSDP or broker, 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 South African Revenue Service. South African tax resident investors
 are advised to contact their CSDP or broker, 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.

 Non-resident investors for South African income tax purposes
 The dividend distribution received by non-resident investors will be exempt from income tax in terms of
 section 10(1)(k)(i) of the Act, but will be subject to dividend withholding tax. Dividend withholding
 tax is levied at a rate of 20%, 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 non-
 resident investor.
 A reduced dividend withholding rate in terms of the applicable DTA may only be relied on if the non-
 resident investor has provided the following forms to their CSDP or broker, as the case may be in
 respect of its participatory interest:
 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 the CSDP or broker, 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 South African Revenue Service. Non-resident investors are advised to
 contact their CSDP or broker, as the case may be, to arrange for the abovementioned documents to be
 submitted prior to the payment of the distribution if such documents have not already been submitted.

 Both resident and non-resident investors are encouraged to consult their professional advisors should
 they be in any doubt as to the appropriate action to take.



Sandton

29 September 2017

Sponsor:
Vunani Corporate Finance

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