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Distribution Finalisation Announcement Quarter End 30 June 2021 - STXSWX
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX SWIX TOP 40 PORTFOLIO
JSE code: STXSWX
ISIN code: ZAE000078580
("Satrix Swix Top 40" or the “ETF”)
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 2021
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 Swix Top 40 securities ("investors")
recorded in the register on Friday, 16 July 2021 in respect of the quarter ended 30 June 2021.
An aggregate amount of 6.43000 cents (R0.06430) per Satrix Swix security constituted as follows:
Alpha Dividend/ Foreign/ Source of Gross Foreign Amount Subject to SA SA Dividends Net
code Interest Local funds distribution Withholding available for Dividends tax Tax (%) Distribution
(Cents per (Cents per distribution Yes/ No (Cents per
unit) unit) (Cents per unit)
unit)
STXSWX Dividend Local 4.08159 n/a 4.08159 Yes 20 3.26527
Dividend Foreign UK 1.78610 n/a 1.78610 Yes 20
(Dual) 1.42888
Foreign 5
Dividend Belgium 0.06412 (0.02164) 0.04248 Yes (Note 1) 0.03927
(S64N)
20
Dividend REIT 0.43455 n/a 0.43455 Yes (Note 2) 0.34764
Foreign
Dividend Switzerland 0.08528 n/a 0.08528 No n/a 0.08528
Tax Rebate
6.43000 5.16634
Note 1
NET FOREIGN DIVIDEND NOT TAXED (S64N REBATE)
Gross dividend 0.07214
Less portfolio costs (0.00802)
Gross distribution 0.06412
Foreign withholding tax (30% of Gross dividend)* (0.02164)
Amount available for distribution 0.04248
SA Dividend withholding tax payable (5% on Gross distribution)* (0.00321)
Net Distributable 0.03927
* The Gross amount of the dividend is subject to a Belgian Withholding tax of 30%, which was withheld from the gross
dividend. A 15% rebate is reclaimable from Belgium, resulting in an effective Belgium withholding tax rate of 15%.
Therefore, depository receipt holders who are not exempt from the South African dividends tax will be subject to an
additional 5 percent South African dividends tax, after the application of the section 64N rebate.
Those depository receipt holders who qualify for exemption from the South African tax (e.g. South African companies and
non-residents of South Africa) must ensure that they have filed the relevant exemption forms with their brokers/ banks
in order to ensure that no South African tax is withheld.
Note 2
Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents, and subject to 20%
withholding tax for non-residents
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended 30
June 2021 by the ETF to holders of Satrix Swix Top 40 securities:
Last day to trade “cum” distribution: Tuesday, 13 July 2021
Securities trade “ex” distribution: Wednesday, 14 July 2021
Record date: Friday, 16 July 2021
Payment date: Wednesday, 21 July 2021
The distribution will be paid on Wednesday, 21 July 2021 to all securities holders recorded in the register on Friday, 16
July 2021.
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.
Sandton
9 July 2021
Sponsor:
Vunani Sponsors
Date: 09-07-2021 04:30:00
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