To view the PDF file, sign up for a MySharenet subscription.

SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution and re-investment announcement for March 2019 - STXRAF

Release Date: 09/04/2019 15:20
Code(s): STXRAF     PDF:  
 
Wrap Text
Distribution and re-investment announcement for March 2019 - STXRAF

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX RAFI 40
JSE code: STXRAF
ISIN: ZAE000126033
(“Satrix RAFI 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 AND RE-INVESTMENT ANNOUNCEMENT FOR MARCH 2019

Investors are advised that 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 RAFI 40 securities("investors”) recorded in the register on Thursday, 18 April 2019 in
respect of the month ended 31 March 2019.

An aggregated amount of 8.42000 ZAR cents (R 0.08420) per Satrix RAFI 40 security is declared as follows:
  Alpha          Dividend/     Foreign/         Source             Gros         Subject    Withholding        Net
   code           Interest       Local            of                 s             to        Tax (%)     Distribution
                                                 funds          Distributi      Withhold                  (Cents per
                                                                 on (Cents      ing tax                      unit)
                                                                 per unit)      Yes/ No


 STXRAF          Dividend       Local                            5.26405          Yes          20          4.21124
                 Dividend      Foreign           UK              3.14674          Yes          20          2.51739
                 Interest       Local                            0.00921           No                      0.00921
                                                                 8.42000                                   6.73784


Notice is hereby given that the following dates are of importance in regard to the distribution for the
month of March 2019 by the ETF to holders of Satrix RAFI 40 securities:

Last day to trade “cum” distribution:                 Monday, 15 April 2019
Securities trade “ex” distribution:                   Tuesday, 16 April 2019
Record date:                                          Thursday, 18 April 2019
Payment date :                                        Tuesday, 23 April 2019


The distribution will be paid on Tuesday, 23 April 2019 to all securities holders recorded in the register
on Thursday, 18 April 2019.


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.

In accordance with the investment policy of Satrix RAFI 40 the distribution (excluding the dividends tax
as detailed above) will be re-invested on behalf of investors through the purchase of securities comprising
the FTSE/JSE RAFI 40 Index in accordance with the calculation methodology of the total return version of
this Index, thereby increasing the net asset value of Satrix RAFI 40 and, proportionately, each Satrix RAFI
40 security.

The distribution (excluding the dividend tax as detailed above) will:

-     where Satrix RAFI 40 securities are held on capital account be added
      to the base cost of each Satrix RAFI 40 security for capital gains tax
      purposes; or
-     where Satrix RAFI 40 securities are held as trading stock be regarded
      as part of the cost of acquiring a Satrix RAFI 40 security.



Sandton

9 April 2019

Sponsor:
Vunani Corporate Finance

Date: 09/04/2019 03:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story