FIRSTRAND LIMITED - Increase in Dividends Withholding Tax - FSRP
FSRP 201702240021A
Increase in Dividends Withholding Tax - FSRP
FirstRand Limited
(Incorporated in the Republic of South Africa)
Registration number: 1966/010753/06
B preference share code: FSRP ISIN: ZAE000060141
Income tax number: 9150201714
(FirstRand)
INCREASE IN DIVIDENDS WITHHOLDING TAX
In terms of the 2017 Budget Speech delivered by Minister Gordhan on 22 February 2017,
the rate of Dividends Withholding Tax (DWT) has increased from 15% to 20% for all local
dividends paid on or after 22 February 2017.
The announced increase has impacted the declared B Preference dividend announced on
SENS on 2 February 2017 of R395.60318 cents per variable rate non-cumulative, non-
redeemable FirstRand B preference share.
B preference shareholders who are subject to dividends withholding tax will be impacted as
follows:
Dividends tax will amount to 79.12064 cents per B preference share (R35 604 286.20 in
total) will be deducted from this preference dividend for all B preference shareholders
subject to the 20% dividends withholding tax. The net dividend for the B preference
shareholders will therefore be 316.48254 cents per B preference share.
24 February 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited
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