Satrix Collective Unveils Distribution for Prop Securities in Johannesburg

-
Satrix Collective Unveils Distribution for Prop Securities in Johannesburg

Satrix Prop Securities Announces New Distribution for Q1 2024

The Satrix Collective Investment Scheme, managed by Satrix Managers (RF) (Pty) Limited in collaboration with Standard Chartered Bank as trustees, has announced a new distribution for holders of Satrix Prop securities. This distribution covers the quarter ending March 31, 2024, and will impact investors who are recorded in the register by April 26, 2024.

The declared distribution amounts to 3.25000 cents (R0.03250) per Satrix Prop security. The distribution is divided into two components: a dividend component and an interest component. The gross South African distribution per unit is 3.25000 cents, with the dividend portion subject to a foreign tax rate of 15%.

According to data from the Johannesburg Stock Exchange (JSE), the distribution originates from multiple sources, including both foreign and local investments. The gross local rate per unit is further broken down into a gross foreign rate, gross local rate, and interest, with specific withholding tax rates applied accordingly. Non-exempt South African shareholders will be subject to a 20% withholding tax on dividends and a 10% tax on certain foreign-sourced components.

Key Dates for Investors

Investors should note the following important dates:

  • Last day to trade "cum" distribution: April 23, 2024
  • Securities will trade "ex" distribution: April 24, 2024
  • Record date: April 26, 2024
  • Payment date: April 29, 2024

These dates are crucial for shareholders who wish to benefit from this quarter's distribution.

Withholding Tax on Interest (WTI)

The withholding tax on interest (WTI), which has been in effect since March 2015, does not apply to the interest component of this distribution. This is because the interest is classified as arising from listed debt instruments.

South African tax residents may be exempt from dividend withholding tax if they provide the necessary documentation to their Central Securities Depository Participant or broker. However, non-resident investors should be aware that while the dividend distribution is exempt from South African income tax, it will still be subject to dividend withholding tax at a general rate of 20%. A reduced rate may apply under a relevant double taxation agreement, provided the necessary declarations and undertakings are submitted in advance.

Investor Advice

Investors are strongly encouraged to consult professional advisors regarding their specific tax obligations and any required documentation to ensure eligibility for exemptions or reduced withholding rates.



Comments

Post a Comment

Popular posts from this blog

Japan Firms Leverage Satellites and AI to Locate Abandoned Homes for Sale

-
Image
The Rise of AI-Powered Real Estate Discovery in Japan In Tokyo, a growing number of Japanese companies are leveraging satellite imagery and artificial intelligence to identify abandoned houses that could be repurposed or sold. This innovative approach is becoming increasingly vital as the country faces a rising number of deserted properties due to its aging population. Where Inc., a startup, offers a service that uses AI trained on tens of thousands of images to detect signs of aging roofs, such as rust and discoloration. These findings are then overlaid on satellite maps, helping users spot properties that may have been left unattended. One of Where Inc.'s users, Kotaro Yasue, recently discovered a two-story wooden house through this service. He was able to contact the owner via a real estate registry. It turned out that the house had been neglected for over a decade, and the owner was unsure how to proceed with its disposal. Yasue, who runs a house rental service company in G...
Read more

Amb. Mumuni Criticizes African Leaders' UNGA Performance, Calls for Greater Global Influence

-
Image
Criticism of African Leaders' Performance at the United Nations General Assembly A prominent Nigerian expert in security and political affairs, Amb. Abayomi Nurain Mumuni, has voiced strong criticism regarding the performance of African leaders during the ongoing United Nations General Assembly (UNGA). He described their engagement as lackluster and disconnected from the urgent diplomatic needs of the continent. In a press statement released by his Media Aide, Rasheed Abubakar, Mumuni expressed disappointment that African leaders did not collectively push for reforms in global governance, particularly concerning Africa’s representation within the UN Security Council. He emphasized that despite being the second-largest continent, Africa continues to be sidelined when it comes to permanent membership or decision-making influence on the Security Council. Mumuni pointed out that only a few African leaders, such as Nigeria’s Vice President Kashim Shettima and Kenya’s President Willia...
Read more

New Clinics Focused on Internal Medicine and Orthopedic Surgery

-
Image
Trends in New Clinic Establishment Recent data reveals a notable trend in the establishment of new clinics, particularly highlighting a concentration in specific medical fields. Local hospitals and clinics are increasingly focusing on areas such as internal medicine and orthopedic surgery. However, one of the essential medical subjects—pediatric and adolescent medicine—has seen a continuous decline in the number of newly established clinics. According to an analysis conducted by Rep. Kim Mi-ae from the People Power Party and the Health and Welfare Committee of the National Assembly, based on data from the Health Insurance Review & Assessment Service, general practitioners, internal medicine, and orthopedic surgery have consistently ranked at the top among newly established clinics from 2019 to January-August 2025. For the first eight months of this year, the numbers were 531 general practitioner clinics, followed by 146 internal medicine clinics and 115 orthopedic surgery clinic...
Read more