Distribution Finalisation Announcement Quarter End 30 September 2018-STXRAF
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX RAFI 40
JSE code: STXRAF
(“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 SEPTEMBER 2018
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 Friday, 19
October 2018 in respect of the month ended 30 September 2018.
An aggregated amount of 17.6700 ZAR cents (R 0.17670) 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 8.90534 Yes 20 7.12427
Dividend Foreign UK 6.13760 Yes 20 4.91008
Dividend (1)Foreign 64N CHF 1.84660 No 1.84660
Dividend REIT 0.75365 Yes 20 0.60292
Interest Local 0.02681 No 0.02681
Notice is hereby given that the following dates are of importance in regard to the distribution for the
month of September 2018 by the ETF to holders of Satrix RAFI 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
1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)
Gross dividend 2.92863
Foreign Dividends withholding tax (1.02502)
Less portfolio costs (0.05701)
Distributable dividend 1.84660
SA Dividend withholding tax
Gross dividend 2.92863
Less portfolio costs (0.05701)
SA DWT 0.57432
SA tax 0.57432 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
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-
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;
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.
12 October 2018
Vunani Corporate Finance
Date: 12/10/2018 11:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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