To view the PDF file, sign up for a MySharenet subscription.

SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter End 31 December 2017 - STX40

Release Date: 04/01/2018 17:30
Code(s): STX40     PDF:  
Wrap Text
Distribution Finalisation Announcement Quarter End 31 December 2017 - STX40

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX 40 PORTFOLIO
JSE code: STX40
ISIN code: ZAE000027108
("Satrix 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 FINALISATION ANNOUNCEMENT QUARTER END 31 DECEMBER 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 40 securities("investors")recorded in the
register on Friday, 12 January 2018 in respect of the quarter ended 31 December 2017.

An aggregated amount of 25.08999 ZAR cents (R0.25089) per Satrix 40 security is declared as follows:
   Alpha         Dividend/     Foreign      Source             Gross          Subject to    Withholding        Net
   code           Interest     / Local        of            Distributio       Withholding     Tax (%)     Distribution
                                            funds             n (Cents        tax Yes/ No                  (Cents per
                                                             per unit)                                        unit)
   STX40         Interest       Local                             0.26062          No                            0.26062
                  Dividend      Local                             10.47978        Yes          20                8.38382
                  Dividend     Foreign       UK                    5.55469        Yes          20                4.44375
                                 Dual
                 Dividend      Foreign       UK                   6.80938         No                            6.80938
                                (S64N
                               rebate)
                 Dividend        REIT                             1.98552         Yes          20               1.58842
                                                                 25.08999                                      21.48599
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended
December 2017 by the ETF to holders of Satrix 40 securities:

Last day to trade “cum” distribution:                Tuesday,9 January 2018
Securities trade “ex” distribution:                  Wednesday,10 January 2018
Record date:                                         Friday,12 January 2018
 Payment date:                                       Monday, 15 January 2018
The distribution will be paid on Monday, 15 January 2018 to all securities holders recorded in the register on Friday, 12
January 2018.

 1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

 Gross dividend                                                  11.00637
 Foreign Dividends withholding tax                              (3.75691)
                                                                  7.24946
 Less portfolio costs                                           (0.44008)
 Distributable dividend                                           6.80938


 SA Dividend withholding tax
 Gross dividend                                                  11.00637
 Less portfolio costs                                           (0.44008)
                                                                 10.56629


 SA DWT                                                           1.58494


 SA tax 1.58494 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 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 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 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

4 January 2018

Sponsor:
Vunani Corporate Finance

Date: 04/01/2018 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story