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Distribution Finalisation Announcement Quarter End 30 June 2023 - STXDEQ
SATRIX COLLECTIVE INVESTMENT SCHEME 2
SATRIX VOLATILITY MANAGED SA DEFENSIVE EQUITY ETF
JSE code: STXDEQ
ISIN code: ZAE000318895
("SATRIXDEQ")
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 JUNE 2023
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 SATRIXDEQ securities ('investors') recorded in the
register on Friday, 28 July 2023 in respect of the quarter ended 30 June 2023.
An aggregate amount of 25.64000 cents (R0.25640) per SATRIXDEQ security is declared as follows:
Dividend
Alpha Code: STXDEQ Dividend Dividend (64N =/< *Interest Total
DTA)
Foreign SA Foreign SA
Distribution Source type Local Listed Listed Local
Net Distribution Reinvested Yes Yes Yes Yes
Source of Funds (Country Code) ZA GB BE ZA
Subject to Foreign Withholding tax No No Yes No
Gross Foreign Rate (cents per unit) 8.90986 0.47669
Foreign Tax % withheld at source 30.00000%
Foreign Tax amount per unit 0.14301
DTA with Source Country 15%
Foreign Tax Reclaim % 15%
Portfolio/Management Cost 0.04387
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 5.84841 8.90986 0.28981 10.59192 25.64000
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 5.84841 8.90986 0.43282 10.59192
SA Withholding Tax % 20.00000% 20.00000% 5.00000%
SA Withholding Tax amount per unit 1.16968 1.78197 0.02164
Local Net Rate 4.67873 7.12789 0.26817 10.59192 22.66671
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended 30 June 2023
by the ETF to holders of SATRIXDEQ securities:
Last day to trade “cum” distribution: Tuesday, 25 July 2023
Securities trade “ex” distribution: Wednesday, 26 July 2023
Record date: Friday, 28 July 2023
Payment date: Monday, 31 July 2023
The distribution will be paid on Monday, 31 July 2023 to all securities holders recorded in the register on Friday, 28 July 2023.
In accordance with the investment policy of SATRIXDEQ the distribution (excluding the dividends tax as detailed above) will be re-
invested on behalf of investors through the purchase of securities comprising the NewFunds/Absa Volatility Managed SA
Defensive Equity Index in accordance with the calculation methodology of the total return version of this Index, thereby
increasing the net asset value of SATRIXDEQ and, proportionately, each SATRIXDEQ security.
*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
18 July 2023
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Date: 18-07-2023 10:30:00
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