Wrap Text
Dividend Currency Conversion
Announcement
CANAL+ SA
(Incorporated and registered in France)
Identification number: 835 150 434
ISIN: FR001400T0D6
LEI number: 9695000537F9F73BXN18
LSE share code: CAN
JSE share code: CNP
("CANAL+" or the "Company")
CANAL+ SA
Dividend Currency Conversion Announcement
Issy-les-Moulineaux, 8 June 2026
CANAL+, the global media and entertainment company, refers shareholders to the pre-listing
announcement published on SENS on 12 May 2026, wherein shareholders were advised of the
proposed dividend payment, announced on 11 March 2026 by the CANAL+ Management Board (as
approved by the CANAL+ Supervisory Board) of 2.2 euro cents per CANAL+ ordinary share
(representing a total distribution of c. € 21,572,127.66 based on the number of shares entitled to
dividend as of 31 December 2025) (2025 Final Dividend).
The 2025 Final Dividend will be paid as follows:
• €10,631,582.31 from retained earnings; and
• €10,940,545.35 from distributable share premiums.
As at 11 March 2026, being the 2025 Final Dividend declaration date, the Company had a total of
991,959,494 ordinary shares in issue, including 11,408,237 ordinary shares held in treasury.
The 2025 Final Dividend will be payable on Monday, 15 June 2026 to shareholders registered on the
London Stock Exchange and South African branch register on Friday, 12 June 2026.
The following information in respect of shareholders holding their shares on the South African branch
register is provided in accordance with the JSE Listings Requirements.
The salient dates and other dividend declaration information announced on 12 May 2026 remain
unchanged for the 2025 Final Dividend.
South Africa Branch Register: Dividends Tax Information
French tax implications
According to French tax law, the 2025 Final Dividend of € 21,572,127.66 (i.e. 2.2 euro cents per CANAL+
ordinary share) will comprise of the following:
• return of share premium for € 10,940,545.35 (i.e. 1.11575 euro cents per CANAL+ ordinary
share), which is not qualified as an income and, therefore, is not subject to dividends
withholding tax; and
• dividends for €10,631,582.31 (i.e. 1.08425 euro cents per CANAL+ ordinary share). Dividends
paid to non-French tax residents will be subject to a withholding tax currently levied at a rate
of 25%. Non-French tax residents are invited to contact their stockbroker/trading platform
and their tax advisers to determine whether, and under what conditions, depending on their
own tax situation, they may claim a refund of all or part of the French withholding tax (the
"French WHT").
Specific information in respect of the French taxation is contained within the convening brochure of
the Combined Shareholders' General Meeting, available on the Company's website:
https://www.canalplusgroup.com/en/general-meeting.
South Africa Branch Register: Dividend Rate
Shareholders holding their shares on the South African branch register will receive the 2025 Final
Dividend in South African cents, converted at a rate of EUR1 to ZAR18.96928 Therefore, the equivalent
gross 2025 Final dividend of 1.08425 euro cents per CANAL+ ordinary share in South African cents per
ordinary share will be 20.56736.
South African tax implications
Return of Foreign Capital
The portion of the 2025 Final Dividend which comprises a return of share premium is a return of
foreign capital (capital reduction) under South African tax law, in the amount of €10,940,545.35 (i.e.
1.11575 euro cents per CANAL+ ordinary share, equivalent to 21.16506 South African cents per
ordinary share). No South African dividend tax will be withheld on the amounts paid to shareholders
as a foreign return of capital. Taxpayers are cautioned to take advice as to how these amounts should
be treated for South African tax purposes.
Foreign Dividend
A South African resident holder who receives a foreign dividend in respect of Shares listed on a South
African exchange will generally be entitled to an exemption from normal tax (i.e. income tax) under
section 10B of the Income Tax Act.
The portion of the gross 2025 Final Dividend which comprises a dividend under French tax law in the
amount of €10,631,582.31 (i.e. 1.08425 euro cents per CANAL+ ordinary share, equivalent to 20.56736
South African cents per ordinary share) is a "dividend" for South African dividend tax purposes.
Accordingly, in addition to the French WHT of 5.14184 South African cents per ordinary share], such
dividend will also be subject to South African dividends tax on the gross value of the dividend, currently
at the rate of 20%, unless the relevant beneficial owner is exempt under the South African dividend
tax rules. South African Dividend Tax (at a rate of 20%) (SA Dividend Tax), equivalent to 4.11347 South
African cents per ordinary share, will be withheld from the gross 2025 Final Dividend paid to
shareholders on the South Africa branch register, unless a shareholder qualifies for an exemption. After
French WHT and SA Dividend Tax has been withheld, the net dividend will be 11.31205 South Africa
cents per ordinary share. Each shareholder should seek advice to establish if they qualify for
exemption from the South African dividend tax and how to access exempt status.
Rebate
It may be possible for South African shareholders of JSE listed shares to claim a rebate of the French
taxes withheld on the dividend portion. The France-South Africa double tax agreement provides that
the French withholding should only be applied at a rate of 15% of the gross value of the dividend for
qualifying shareholders.
Further, the South African dividend tax applied to the dividend portion may be reduced having regard
to the extent of French tax that should correctly be withheld per the France-South Africa Double Tax
Agreement (i.e. after taking into account available rebates).
Shareholders are cautioned to seek expert advice in this regard.
As a general position for South African tax resident shareholders holding their shares on the JSE that
are not exempt from South African dividend tax and assuming no rebate of French WHT is secured,
the consequences would be as follows:
Dividend JSE Shareholders
(South African cents)
Gross amount of Dividend per ordinary share 20.56736
Less: 25% French dividends tax for shareholders who are non-
French tax residents (5.14184)
Net dividend after French tax 15.42552
Less: 20% SA dividends JSE shareholders who are SA tax residents
(4.11347)
Net ordinary dividend payable after French tax and SA dividends
tax 11.31205
If a rebate of French WHT is secured, the following would apply:
Dividend JSE Shareholders
(South African cents)
Gross amount of Dividend per ordinary share 20.56736
Less: 15% French dividends tax for shareholders who are non-
French tax residents (3.08510)
Net dividend after French tax 17.48225
Less: 5% SA dividends JSE shareholders who are SA tax residents
(1.02837)
Net ordinary dividend payable after French tax and SA dividends
tax 16.45388
Non-resident holders
Non-resident beneficial owners are generally exempt from South African Dividend Tax in respect of
dividends paid on shares listed on the JSE, subject to the submission of the prescribed declarations
and undertakings to the relevant regulated intermediary.
For the avoidance of doubt, Dividend Tax and the information provided above are of direct application
only to shareholders on the South Africa branch register. Shareholders are advised to consult their
local custodians, tax advisors, or other professional advisors regarding the appropriate tax treatment
of distributions, including the application of any double taxation agreements and the process for
claiming or reclaiming any differences between French and South African withholding taxes, where
applicable.
Joint JSE Sponsors
BofA Securities
The Standard Bank of South Africa Limited
ABOUT CANAL+
CANAL+ is a global media and entertainment company with leading positions in Europe and Africa.
Over 40 million subscribers enjoy the CANAL+ entertainment platform, which brings together the best
local and global films, live sport, TV series and much more. CANAL+ operates in over 70 countries and
has approximately 15,000 employees.
CANAL+ operates across the entire audio-visual value chain, including production,
broadcast, distribution and aggregation. In addition to its Pay-TV and streaming operations in Europe,
Africa and Asia, the combined group includes: MultiChoice Group, Africa's leading entertainment
platform; STUDIOCANAL, Europe's leading film and television studio, with worldwide production and
distribution capabilities; Dailymotion, a major international video platform powered by cutting-edge
proprietary technology for video delivery, advertising, and monetisation; CANAL+ Distribution, a
production and distribution company specialising in creating and distributing diverse content and
channels; telecommunication services, through GVA in Africa and CANAL+ Telecom in the French
overseas jurisdictions and territories.
CANAL+ also has minority stakes in Viaplay(Scandinavia's leading entertainment provider),Viu(a
leading OTT provider in Southeast Asia), and UGC, a leading French cinema group.
canalplusgroup.com/en
4
Date: 08-06-2026 09:00:00
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