Shareholders are referred to Old Mutual’s Preliminary Results announcement dated 16 March 2020, wherein the company declared a final dividend of 75 cents per share, which will be paid on Monday, 4 May 2020. The dividend of 75 cents per ordinary share will be subject to a local dividend tax rate of 20% which will result in a net final dividend, to those shareholders who are not exempt from paying dividend tax, of 60 cents per ordinary share. International shareholders who are not exempt or are not subject to a reduced rate in terms of a double taxation agreement, will be subject to a dividend withholding tax at a rate of 20%.
Shareholders on the London, Zimbabwean, Malawian and Namibian registers will be paid in the local currency equivalents of the final dividend. Distributions made through the dividend access trust or similar arrangements established in a country will not be subject to South African withholding tax but may be subject to withholding tax in the country. We recommend that you consult with your tax advisor regarding the in-country withholding tax consequences.
The local currency equivalents of the final dividend have now been established as follows:
Malawi 32.34 Malawian kwacha per share
Namibia 75.00 Namibian cents per share
United Kingdom 3.71 GBP pence per share
Zimbabwe 91.37 RTGS cents per share
These local currency equivalents have been calculated using the following exchange rates:
Malawi 43.1139 Malawian kwacha per Rand
Namibia 1.0000 Namibian cents per Rand
United Kingdom 20.2070 Rand per Pound sterling
Zimbabwe 0.8208 Rand per RTGS dollar
The timetable released on the Stock Exchange News Service on 16 March 2020
JSE Merrill Lynch South Africa (Pty) Limited
Stockbrokers Malawi Limited
PSG Wealth Management (Namibia) (Proprietary)
Zimbabwe Imara Capital Zimbabwe plc
Head of Communications
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Notes to Editors
About Old Mutual Limited
Old Mutual is a premium African financial services Group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 14 countries. Old Mutual’s primary operations are in South Africa and the rest of Africa, and we have a niche business in China. With 175 years of heritage across subSaharan Africa, we are a crucial part of the communities we serve and broader society on the continent.
For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.com.