Distribution Finalisation Announcement Quarter End 30 June 2020 - STXQUA
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX QUALITY PORTFOLIO
JSE Code: STXQUA
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 JUNE 2020 - STXQUA
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 Quality securities("investors")recorded
in the register on Friday, 17 July 2020 in respect of the quarter ended 30 June 2020.
An aggregate amount of 5.47000 cents (R0.054700) per Satrix Quality security constituted as follows:
Alpha Dividend/ Foreign Source of Gross Subject to Withholding Net
code Interest / Local funds Distribut Withholding Tax (%) Distribution
ion tax Yes/ No (Cents per
STXQUA Dividend Local 4.26195 Yes 20 3.40956
Dividend Foreign Great Britain 1.16029 Yes 20 0.92823
Interest Local 0.04776 No 0.04776
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended June
2020 by the ETF to holders of Satrix Quality securities:
Last day to trade “cum” distribution: Tuesday, 14 July 2020
Securities trade “ex” distribution: Wednesday, 15 July 2020
Record date: Friday, 17 July 2020
Payment date: Wednesday, 22 July 2020
The distribution will be paid on Wednesday, 22 July 2020 to all securities holders recorded in the register on Friday, 17
Withholding Tax on Interest (WTI) came into effect on 1 June 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.
10 July 2020
Vunani Corporate Finance
Date: 10-07-2020 05:15:00
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