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Declaration of interim cash dividend
CASTLEVIEW PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2017/290413/06)
JSE share code: CVW
ISIN: ZAE000251633
(Approved as a REIT by the JSE)
("Castleview" or "the Company")
DECLARATION OF INTERIM CASH DIVIDEND
Shareholders are referred to the trading statement published on SENS on 20 November 2023, wherein
shareholders were advised that Castleview intended to declare an interim cash dividend for the six months
ended 30 September 2023 on 21 November 2023.
The board hereby approves and gives notice of the interim gross dividend for the period 1 April 2023 to
30 September 2023 of 10.67600 cents per ordinary share.
The dividend is payable to Castleview shareholders in accordance with the timetable set out below:
Last day to trade cum dividend Tuesday, 5 December 2023
Shares trade ex-dividend Wednesday, 6 December 2023
Record date Friday, 8 December 2023
Payment date Monday, 11 December 2023
Share certificates may not be dematerialised or rematerialised between Wednesday, 6 December 2023 and
Friday, 8 December 2023, both days inclusive. The dividend will be transferred to dematerialised
shareholders' CSDP accounts/broker accounts on Monday, 11 December 2023. Certificated shareholders'
dividend payments will be paid to certificated shareholders' bank accounts on or about Monday, 11 December
2023.
TAX TREATMENT
In accordance with Castleview's status as a REIT, shareholders are advised that the dividends meet the
requirements of a "qualifying distribution" for the purposes of section 25BB of the Income Tax Act, No. 58
of 1962 ("Income Tax Act") and will be deemed to be dividends, for South African tax purposes, in terms of
section 25BB of the Income Tax Act.
The dividends received by or accrued to South African tax residents must be included in the gross income of
such shareholders and will not be exempt from income tax (in terms of the exclusion to the general dividend
exemption, contained in paragraph (aa) of section 10(1)(k)(i) of the Income Tax Act) because they are
dividends distributed by a REIT. The dividends are, however, exempt from dividend withholding tax in the
hands of South African tax resident shareholders, provided that such shareholders provide the following forms
to their Central Securities Depository Participant ("CSDP") or broker, as the case may be, in respect of
uncertificated shares, or the company, in respect of certificated shares:
(a) a declaration that the dividends are exempt from dividends tax; and
(b) a written undertaking to inform the CSDP, broker or the company, 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 Commissioner for the South African Revenue Service. Shareholders are
advised to contact their CSDP, broker or the company, as the case may be, to arrange for the abovementioned
documents to be submitted prior to payment of the dividend, if such documents have not already been
submitted.
Dividends received by non-resident shareholders will not be taxable as income and instead will be treated as
an ordinary dividend which is exempt from income tax in terms of the general dividend exemption in section
10(1)(k)(i) of the Income Tax Act. Any distribution received by a non-resident from a REIT will be subject to
dividend withholding tax at 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 shareholder.
Assuming dividend withholding tax will be withheld at a rate of 20%, the net dividend amount due to non-
resident shareholders is 8.54080 cents per share. A reduced dividend withholding rate in terms of the
applicable DTA may only be relied on if the non-resident shareholder has provided the following forms to
their CSDP or broker, as the case may be, in respect of uncertificated shares, or the company, in respect of
certificated shares:
(a) a declaration that the dividends are subject to a reduced rate as a result of the application of a DTA; and
(b) a written undertaking to inform their CSDP, broker or the company, 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 Commissioner for the South African Revenue Service. Non-resident
shareholders are advised to contact their CSDP, broker or the company, as the case may be, to arrange for the
abovementioned documents to be submitted prior to payment of the dividends if such documents have not
already been submitted, if applicable.
Shares in issue at the date of declaration of the dividend: 984 411 189
Castleview's income tax reference number: 9366916188
The dividend may have tax implications for resident as well as non-resident shareholders. Shareholders are
therefore encouraged to consult their professional advisors should they be in any doubt as to the appropriate
action to take.
Castleview expects to publish its interim results for the six months ended 30 September 2023 on or about
30 November 2023.
21 November 2023
Designated advisor
Java Capital
Date: 21-11-2023 10:30:00
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