Wrap Text
Distribution Finalisation Announcement Quarter End 30 September 2019 - STXPRO
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX PROPERTY PORTFOLIO
JSE code: STXPRO
ISIN Code: ZAE0000240131
("Satrix Prop")
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 2019
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 Prop securities("investors")recorded in
the register on Friday, 1 November 2019 in respect of the quarter ended 30 September 2019.
An aggregate amount of 16.71000 cents (R0.16710) per Satrix Property security constituted as follows:
Alpha Dividend/ Foreign Source Gross Subject to Withholding Net
code Interest / Local of Distribution Withholding Tax (%) Distribution
funds (Cents per tax Yes/ No (Cents per
unit) unit)
STXPRO Dividend Local 0.14309 Yes 20 0.11447
Dividend Foreign Great Britain 0.11881 Yes 20 0.09505
Dividend REIT 15.47096 Yes 20 12.37677
Foreign
Dividend Great Britain 0.97714 No Note 1 0.97714
(S64N)
16.71000 13.56343
Note 1
NET FOREIGN DIVIDEND NOT TAXED (S64N REBATE)
Gross dividend 1.38772
Foreign Dividends withholding tax (0.27754)
1.11018
Less portfolio costs (0.13304)
Distributable dividend 0.97714
SA Dividend withholding tax payable
Gross dividend 1.38772
Less portfolio costs (0.13304)
1.25468
SA Dividends withholding tax 0.25094
SA tax of 0.25094 cents (20%) will not be deducted as foreign dividend withholding tax has already been deducted (Section
64N).
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended June
2019 by the ETF to holders of Satrix Property securities:
Last day to trade “cum” distribution: Tuesday, 29 October 2019
Securities trade “ex” distribution: Wednesday, 30 October 2019
Record date: Friday, 1 November 2019
Payment date: Wednesday, 6 November 2019
The distribution will be paid on Wednesday, 6 November 2019 to all securities holders recorded in the register on Friday,
1 November 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.
Sandton
25 October 2019
Sponsor:
Vunani Corporate Finance
Date: 25/10/2019 03:00:00
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.