SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter End 30 September 2018-STX40

Release Date: 12/10/2018 11:30
Code(s): STX40
 
Wrap Text
Distribution Finalisation Announcement Quarter End 30 September 2018-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 30 SEPTEMBER 2018

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, 19 October 2018 in respect of the quarter ended 30 September
2018.

An aggregate amount of 61.66000 cents (R0.61660) per Satrix 40 security constituted as follows:

    Alpha         Dividend/      Foreign     Source           Gross          Subject     Withholding        Net
    code           Interest      / Local       of          Distribution         to         Tax (%)     Distribution
                                             funds          (Cents per      Withholdi                   (Cents per
                                                              unit)           ng tax                       unit)
                                                                             Yes/ No
    STX40         Dividend        Local                      26.12151           Yes               20     20.89721
                  Dividend       Foreign      UK             24.90022           Yes               20     19.92018
                                   Dual
                  Dividend         REIT                      2.48814           Yes                20     1.99051
                  Dividend       Foreign      CHF            7.92049           No                        7.92049
                                  (S64N)
                  Interest        Local                       0.22278          No                         0.22278
                  Dividend    Manufactured                    0.00686          No                         0.00686
                                                             61.66000                                    50.95803




Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended
September 2018 by the ETF to holders of Satrix 40 securities:
Last day to trade “cum” distribution:                 Tuesday,16 October 2018
Securities trade “ex” distribution:                   Wednesday,17 October 2018
Record date:                                          Friday,19 October 2018
Payment date:                                         Wednesday, 24 October 2018

The distribution will be paid on Wednesday, 24 October 2018 to all securities holders recorded in the register on Friday,
19 October 2018.

1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

Gross dividend                                                  12.47603
Foreign Dividends withholding tax                              (4.36661)
                                                                 8.10942
Less portfolio costs                                           (0.18893)
Distributable dividend                                           7.92049


SA Dividend withholding tax
Gross dividend                                                  12.47603
Less portfolio costs                                           (0.18893)
                                                                12.28710


SA DWT                                                           2.45742


SA tax 2.45742 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

12 October 2018

Sponsor:
Vunani Corporate Finance

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