The Board is pleased to advise that at its meeting held on 14 February 2019, the directors increased the pay-out ratio dividend policy from 30% to 40% of headline earnings, which is in accordance with the
Company’s capital allocation framework and in line with our commitment to sustainably return cash to shareholders through the cycle, whilst retaining a high level of balance sheet strength.
At that meeting, the directors approved the declaration of a final gross cash dividend of 751 cents per share on the ordinary shares from profits accrued during the six-month period ended 31 December 2018. The dividend has been declared from retained earnings.
The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from or do not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders subject to withholding tax at a rate of 20% amounts to 600.80 cents per share.
The issued share capital at the declaration date is 269,681,886 ordinary shares and the Company’s tax number is 9575104717.
The salient dates are as follows:
Publication of declaration data Monday, 18 February 2019
Last day for trading to qualify and participate in the final dividend Tuesday, 5 March 2019
Trading ex-dividend commences Wednesday, 6 March 2019
Record date Friday, 8 March 2019
Dividend payment date Monday, 11 March 2019
Share certificates may not be dematerialised or rematerialised between Wednesday, 6 March 2019 and Friday, 8 March 2019 both days inclusive. Any change of dividend instructions must be provided by the last day for trading.
By order of the Board
E Viljoen
Company secretary
18 February 2019
Johannesburg, South Africa
Sponsor
Merrill Lynch South Africa Proprietary Limited