| Fri 14 Aug 2009, 7:05 | | ABSP - ABSA Bank Limited - Dividend number 7: Non-cumulative Non-redeemable |
|
JSE ABSP
ABSP
ABSP - ABSA Bank Limited - Dividend number 7: Non-cumulative, Non-redeemable
preference shares - Impact of Repo Rate decision
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank or the Company)
DIVIDEND NUMBER 7: NON-CUMULATIVE, NON-REDEEMABLE PREFERENCE SHARES - IMPACT OF
REPO RATE DECISION
Introduction
On 3 August 2009, Absa Bank declared a dividend of 3 799,0 cents per non-
cumulative, non-redeemable preference share (preference share) for the period
from 1 March 2009 to 31 August 2009 subject to no change in the prime overdraft
lending rate.
Subsequent to the Absa Bank dividend declaration, the South African Reserve Bank
Monetary Policy Committee lowered the repo rate to 7,0%, resulting in the prime
overdraft rate to change to 10,5% with effect from 14 August 2009.
The Absa Bank preference shares have an effective coupon rate of 63% of the
prime overdraft lending rate.
Declaration of dividend number 7: Non-cumulative, non-redeemable preference
shares
Notice is hereby given that preference dividend number 7 of 3 783,0 cents per
share has been declared for the period from 1 March 2009 to 31 August 2009. The
dividend is payable on Monday, 31 August 2009, to shareholders of the Absa Bank
preference shares recorded in the register of members of the Company at the
close of business on Friday, 28 August 2009.
In accordance with the provisions of Strate, the electronic settlement and
custody system used by the JSE Limited, and the JSE Listings Requirements, the
following salient dates for the payment of the preference dividend are
applicable:
Last day to trade cum dividend Friday, 21 August 2009
Shares trade ex dividend Monday, 24 August 2009
Record date Friday, 28 August 2009
Payment date Monday, 31 August 2009
Share certificates may not be dematerialised or rematerialised between Monday,
24 August 2009, and Friday, 28 August 2009, both dates inclusive.
On Monday, 31 August 2009, the dividend will be transferred electronically to
the bank accounts of certificated shareholders who use this facility. In respect
of those who do not, cheques dated 31 August 2009 will be posted on or about
that date. The accounts of those shareholders who have dematerialised their
shares (which are held at their participant or broker) will be credited on
Monday, 31 August 2009.
On behalf of the board
S Martin
Group Secretary
Johannesburg
14 August 2009
Please note that the preference dividend calculation dates are 28 (29) February
and 31 August of each year and that the payment date may not be later than 45
days after the preference dividend calculation date.
Enquiries
Jacques Schindehutte
Group Executive Director
Absa Group Limited
5th Floor, Absa Towers East, 170 Main Street, Johannesburg, 2001
Tel: +2711 350-4850, Fax: +2711 350-8433
E-mail: jacquessc@absa.co.za
Jason Quinn
Group Financial Controller
Absa Group Limited
4th Floor, Absa Towers East, 170 Main Street, Johannesburg
Tel: +2711 350-7565, Fax: +2711 350-6487
E-mail: jason.quinn@absa.co.za
Nerina Bodasing
Head: Investor Relations
Absa Group Limited
3rd Floor, Absa Towers East, 170 Main Street, Johannesburg
Tel: +2711 350-2598, Fax: +2711 350-5924
E-mail: Nerina.Bodasing@absa.co.za
Sponsor
JP Morgan Equities Limited
Date: 14/08/2009 07:05:02 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.
