DISTRIBUTION FINALISATION ANNOUNCEMENT PERIOD END JUNE 2018-SYG500
The Sygnia Itrix Collective Investment Scheme
Sygnia Itrix S&P 500 ETF
JSE code: SYG500
A portfolio in the Sygnia Itrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes
Control Act, 45 of 2002.
DISTRIBUTION FINALISATION ANNOUNCEMENT PERIOD ENDED JUNE 2018
The Manager and Trustees of the Sygnia Itrix Collective Investment Scheme (being Sygnia Itrix (RF) (Pty) Limited and Standard
Bank of South Africa Limited), respectively, have declared a distribution to holders of SYG500 securities ("investors") recorded in the
register on Friday, 6 July 2018 in respect of the period ended June 2018.
An aggregated amount of 23.21385 ZAR cents (R0.23214) per SYG500 security is declared as follows:
Alpha Gross Distribution Subject to withholding Withholding Net Distribution (cents
code Dividend/Interest Foreign/Local Source of funds (cents per unit) tax (yes/no) Tax (%) per unit)
SYG500 Interest income Foreign USA 0.00155 No 0.00155
Dividend rebate) USA 23.2123 No 23.21230
Total 23.21385 23.21385
Notice is hereby given that the following dates are of importance in regard to the distribution for the period ended
June 2018 by the ETF to holders of SYG500 securities:
Last day to trade “cum” distribution: Tuesday, 3 July 2018
Securities trade “ex” distribution: Wednesday, 4 July 2018
Record date: Friday, 6 July 2018
Payment date: Monday, 9 July 2018
The distribution will be paid on Monday, 9 July 2018 to all securities holders recorded in the register on Friday, 6 July 2018.
1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)
Gross dividends 27.52340
Foreign dividend withholding tax -2.37300
Less Portfolio costs -1.93809
Distributable dividend 23.21230
SA dividend withholding tax
Gross dividend 27.52340
Less Portfolio costs -1.93809
Net dividend 25.58530
SA dividend withholding tax 5.11706
SA tax 5.11706 cents (20%) will not be deducted as foreign dividend withholding tax has already been deducted (SECTION 64N).
Equalisation amount has been proportionally net off against all categories.
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.
28 June 2018
Sygnia Itrix (RF) (Proprietary) Limited
The Standard Bank of South Africa Limited
Vunani Corporate Finance
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