Schroder Eur Real Est Inv Trust PLC Change in SA Dividend Withholding Tax Rate (0884Y)
01 March 2017 - 1:00AM
UK Regulatory
TIDMSERE
RNS Number : 0884Y
Schroder Eur Real Est Inv Trust PLC
28 February 2017
28 February 2017
CHANGE IN SOUTH AFRICAN DIVIDEND WITHHOLDING TAX RATE
The Board of Schroder European Real Estate Investment Company
plc (the "Company") notes the announcement by the South African
Minister of Finance on 22 February 2017, advising that the South
African dividend withholding tax rate has been increased from 15
per cent to 20 per cent, effective for South African dividends
declared with a payment date on or after 22 February 2017.
On 9 February 2017, the Company announced its first interim
dividend for the period to 30 September 2017 of 1.0 euro cents per
share. While the dividend declaration timetable will remain
unchanged, South African shareholders are hereby advised that the
net dividend amount announced on 21 February 2017 has now been
adjusted to take account of the increased withholding tax rate, as
set out below.
Declared dividend Exchange Dividend in South African
rate cents per share
------------------- --------- --------------------------
1.0 euro cents
per share 13.85250 13.85250
------------------- --------- --------------------------
Dividend tax will be withheld from the amount of the gross
dividend of 13.85250 South African cents per share paid to
shareholders on the South African register at the rate of 20 per
cent unless a shareholder qualifies for exemption.
After the dividend tax has been withheld, the net dividend will
be 11.08200 South African cents per share.
For the avoidance of doubt, dividend tax, and therefore the
information provided in this announcement, is only of direct
application to shareholders on the South African register.
Enquiries:
Duncan Owen/Tony Smedley
Schroder Real Estate Investment Management Limited Tel: 020 7658
6000
Ria Vavakis
Schroder Investment Management Limited Tel: 020 7658 2371
Dido Laurimore
FTI Consulting Tel: 020 3727 1000
Shareholders on the South African branch register should direct
any questions regarding the application of the dividend tax to the
Company's Transfer Secretary:
Computershare Investor Services (Pty) Limited
Rosebank Towers, 15 Biermann Avenue
Rosebank, 2196, South Africa
Postal Address - PO Box 61051
Marshalltown 2107
Telephone +27 11 373 0033
Facsimile +27 11 688 5218
Email enquiries: web.queries@computershare.co.za
This information is provided by RNS
The company news service from the London Stock Exchange
END
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