Old Mutual - second interim dividend
The Directors of Old Mutual plc (the ˘Company÷) have declared a second interim dividend for the year ended 31 December 2016 of 3.39p per share (the ˘Second Interim Dividend÷), which will be paid on 28 April 2017. Shareholders on the South African, Zimbabwean and Malawian branch registers and the Namibian section of the principal register will be paid the local currency cash equivalents of the Second Interim Dividend under dividend access trust or similar arrangements established in each country. Shareholders who hold their shares through Euroclear Sweden AB, the Swedish nominee, will be paid the cash equivalent of the Second Interim Dividend in Swedish kronor.
The Second Interim Dividend, together with the first interim dividend of 2.67p per share paid in October 2016, equates to approximately 3.2 times the CompanyĂs AOP earnings cover for the full year. This is slightly above the mid-point of the CompanyĂs target dividend cover range of 2.5 to 3.5 times its AOP earnings for each annual reporting period. As with last year, the Second Interim Dividend is not subject to a confirmatory vote from shareholders at the CompanyĂs 2017 AGM.
The local currency cash equivalents of the Second Interim Dividend are as follows:
*South Africa 53.55251 South African cents per share
*Malawi 30.18 Malawian kwacha per share
*Namibia 53.55251 Namibian cents per share
*Zimbabwe 4.14 US cents per share
*Sweden 0.37 Swedish kronor per share
These currency equivalents have been calculated using the following exchange rates:
* South Africa 15.7972 Rand/GBP
*Malawi 890.12 Malawian kwacha/GBP
*Namibia 15.7972 Namibian dollars/GBP
*Zimbabwe 1.2207 US dollars/GBP
*Sweden 10.9843 Swedish kronor/GBP
The record date for this dividend payment is the close of business on 31 March 2017 for all the exchanges where the CompanyĂs shares are listed.
The last day to trade cum-dividend will be 24 March 2017 on the Malawian and Zimbabwean Stock Exchanges, 28 March 2017 on the JSE and on the Namibian Stock Exchange and 29 March 2017 for the London Stock Exchange.
The shares will trade ex-dividend from the opening of business on 27 March 2017 on the Malawian and Zimbabwean Stock Exchanges, from the opening of business on 29 March 2017 on the JSE and on the Namibian Stock Exchange and from the opening of business on 30 March 2017 on the London Stock Exchange.
Share certificates for shareholders on the South African register may not be dematerialised or rematerialised between 29 March and 31 March 2017, both dates inclusive. Transfers between the registers may not take place between 28 and 31 March 2017, both dates inclusive. Trading in shares held on the Namibian section of the principal register through Old Mutual (Namibia) Nominees (Pty) Limited will not be permitted between 28 and 30 March 2017, both dates inclusive.