ABSP - ABSA Bank Limited - ABSA Bank Limited: The increase in the dividend
JSE ABSP
ABSAB
ABSP - ABSA Bank Limited - ABSA Bank Limited: The increase in the dividend
tax and its effect on ABSA Bank Limited non-cumulative non-redeemable
Preference Shares
ABSA BANK LIMITED
Registration number: 1986/004794/06
Authorised financial services and registered credit provider (NCRCP7)
Incorporated in the Republic of South Africa
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank)
ABSA BANK LIMITED: THE INCREASE IN THE DIVIDEND TAX AND ITS EFFECT ON ABSA
BANK LIMITED NON-CUMULATIVE NON-REDEEMABLE PREFERENCE SHARES
Holders of Absa Bank non-cumulative non-redeemable preference shares (ABSP
Preference Shares) are referred to our SENS announcement of 6 February 2012
dealing with dividends payable in respect of the ABSP Preference Shares
being adjusted (grossed up) and the 2012 Budget Speech presented by the
Minister of Finance on 22 February 2012, during which it was announced that
dividend tax is to be levied at a rate of 15%.
As stated in our 6 February 2012 SENS announcement, "the gross-up will be
limited to the introduction of the dividend tax in its current form and
does not extend to any future amendments thereto". The "current form" of
the dividend tax at the time of the 6 February 2012 SENS announcement was
10%.
Absa will maintain this position and accordingly symbol "B" in the formula
referred to under "Entitlements to dividends" in the pre-listing statement
will be increased from 63% to 70% as stated in our SENS announcement of 6
February 2012, subject to approval by holders of ABSP Preference Shares at
the general meeting on Wednesday, 14 March 2012.
Johannesburg
9 March 2012
Sponsor:
J.P. Morgan Equities Limited
Enquiries:
Alan Hartdegen (Head of Investor Relations)
Telephone: (+27 11) 350 5926
Telefax: (+27 11) 350 5924
E-mail: Investorrelations@absa.co.za
Date: 09/03/2012 12:57:01 Produced by the JSE SENS Department.
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