| Wed 11 Oct 2023, 13:15 | | Distribution Finalisation Announcement Quarter End 30 September 2023 - STXT50 |
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Distribution Finalisation Announcement Quarter End 30 September 2023 - STXT50
SATRIX COLLECTIVE INVESTMENT SCHEME 2
SATRIX S&P GIVI SOUTH AFRICA TOP 50 ETF
JSE code: STXT50
ISIN code: ZAE000318317
("SATRIXT50")
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 - STXT50
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 SATRIXT50 securities ('investors') recorded in the register on Friday, 20 October 2023 in respect of the quarter ended 30 September 2023.
An aggregate amount of 77.32000 cents (R0.77320) per SATRIXT50 security is declared as follows:
Dividend Dividend
Alpha Code: STXT50 Dividend Dividend Dividend Dividend (64N =/< (64N > *Interest REIT Total
DTA) DTA)
Foreign SA Foreign SA Foreign SA Foreign SA Foreign SA
Distribution Source type Local Listed Listed Listed Listed Listed Local Local
Net Distribution Reinvested No No No No No No No No
Source of Funds (Country Code) ZA GB NL JE NL CH ZA ZA
Subject to Foreign Withholding tax No No No No Yes Yes No No
Gross Foreign Rate (cents per unit) 13.77649 1.31895 23.53790 0.85494 3.19839
Foreign Tax % withheld at source 15.00000% 35.00000%
Foreign Tax amount per unit 0.12824 1.11944
DTA with Source Country 10% 15%
Foreign Tax Reclaim % 5% 20%
Portfolio/Management Cost 0.06722 0.19230
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 34.73173 13.77649 1.31895 23.53790 0.65948 1.88665 0.85798 0.55082 77.32000
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 34.73173 13.77649 1.31895 23.53790 0.78772 3.00609 0.85798 0.55082
SA Withholding Tax % 20.00000% 20.00000% 20.00000% 20.00000% 10.00000% 5.00000% Note 1
SA Withholding Tax amount per unit 6.94635 2.75530 0.26379 4.70758 0.07877 0.15030
Local Net Rate 27.78538 11.02119 1.05516 18.83032 0.58071 1.73635 0.85798 0.55082 62.41791
Note 1: Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for non-residents it is subject to 20% SA
withholding tax. The Gross rate for non-residents is 0.55082 cents per unit and the net rate is 0.44066 cents per unit.
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 SATRIXT50
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 01:15:00
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