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Distribution And Re-Investment Announcement For November 2017-STXRAF
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX RAFI 40
JSE code: STXRAF
ISIN: ZAE000126033
(“Satrix RAFI 40”)
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 AND RE-INVESTMENT ANNOUNCEMENT FOR NOVEMBER 2017
Investors are advised that 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 RAFI 40 securities("investors”) recorded in the register on Friday, 24 November 2017 in
respect of the month ended 30 November 2017.
An aggregated amount of 0.07000 ZAR cents (R 0.0007) per Satrix RAFI 40 security is declared as follows:
Alpha Dividend/I Foreign/ Source Gro Subject to Withholding Net
code nterest Local of ss Withholding Tax (%) Distribution
funds Distributi tax Yes/ No (Cents per
on (Cents unit)
per unit)
STXRAF Interest Local 0.00305 No 0.00305
Dividend Local 0.03193 Yes 20 0.02554
Dividend (1) Foreign UK 0.03502 No 0.03502
S64N
0.07000 0.06361
Notice is hereby given that the following dates are of importance in regard to the distribution for the
month of November 2017 by the ETF to holders of Satrix RAFI 40 securities:
Last day to trade “cum” distribution: Tuesday,21 November 2017
Securities trade “ex” distribution: Wednesday,22 November 2017
Record date: Friday,24 November 2017
Payment date : Wednesday,29 November 2017
The distribution will be paid on Wednesday, 29 November 2017 to all securities holders recorded in the
register on Friday, 24 November 2017.
1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)
Gross dividend 0.32469
Foreign Dividends withholding tax - 0.06494
0.25975
Less portfolio costs - 0.22473
Distributable dividend 0.03502
SA Dividend withholding tax
Gross dividend 0.32469
Less portfolio costs - 0.22473
0.09996
SA DWT 0.01999
SA tax 0.01999 cents (20%) will not be deducted as foreign dividend
withholding tax has already been deducted (SECTION 64N).
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 20% 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.
In accordance with the investment policy of Satrix RAFI 40 the distribution (excluding the dividends tax
as detailed above) will be re-invested on behalf of investors through the purchase of securities comprising
the FTSE/JSE RAFI 40 Index in accordance with the calculation methodology of the total return version of
this Index, thereby increasing the net asset value of Satrix RAFI 40 and, proportionately, each Satrix RAFI
40 security.
The distribution (excluding the dividend tax as detailed above) will:
- where Satrix RAFI 40 securities are held on capital account be added
to the base cost of each Satrix RAFI 40 security for capital gains tax
purposes; or
- where Satrix RAFI 40 securities are held as trading stock be regarded
as part of the cost of acquiring a Satrix RAFI 40 security.
Sandton
24 November 2017
Sponsor:
Vunani Corporate Finance
Date: 24/11/2017 02:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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