| Wed 11 Oct 2023, 11:05 | | Distribution Finalisation Announcement Quarter End 30 September 2023 - STX40 |
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Distribution Finalisation Announcement Quarter End 30 September 2023 - STX40
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX 40 PORTFOLIO
JSE code: STX40
ISIN code: ZAE000027108
("Satrix 40")
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 2023
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 40 securities ('investors') recorded in the register on Friday, 20
October 2023 in respect of the quarter ended 30 September 2023.
An aggregate amount of 90.16000 cents (R0.90160) per Satrix 40 security is declared as follows:
Dividend
Alpha Code: STX40 Dividend Dividend Dividend *Interest Total
(64N > DTA)
Foreign SA Foreign SA Foreign SA
Distribution Source type Local Listed Listed Listed Local
Net Distribution Reinvested No No No No No
Source of Funds (Country Code) ZA GB LU CH ZA
Subject to Foreign Withholding tax No No No Yes No
Gross Foreign Rate (cents per unit) 25.02016 1.03154 4.34159
Foreign Tax % withheld at source 35.00000%
Foreign Tax amount per unit 1.51956
DTA with Source Country 15%
Foreign Tax Reclaim % 20%
Portfolio/Management Cost 0.06567
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 61.04453 25.02016 1.03154 2.75636 0.30741 90.16000
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 61.04453 25.02016 1.03154 4.27592 0.30741
SA Withholding Tax % 20.00000% 20.00000% 20.00000% 5.00000%
SA Withholding Tax amount per unit 12.20891 5.00403 0.20631 0.21380
Local Net Rate 48.83562 20.01613 0.82523 2.54256 0.30741 72.52695
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended 30 September 2023
by the ETF to holders of Satrix 40 securities:
Last day to trade “cum” distribution: Tuesday, 17 October 2023
Securities trade “ex” distribution: Wednesday, 18 October 2023
Record date: Friday, 20 October 2023
Payment date: Monday, 23 October 2023
The distribution will be paid on Monday, 23 October 2023 to all securities holders recorded in the register on Friday, 20 October 2023.
*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
11 October 2023
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Date: 11-10-2023 11:05:00
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