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Distribution Finalisation Announcement Month End 31 October 2022 - STXRAF
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX RAFI 40
JSE code: STXRAF
ISIN: ZAE000126033
(“Satrix RAFI 40”)
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 MONTH END 31 OCTOBER 2022
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 Rafi 40 securities ('investors') recorded in the register on Friday, 18
November 2022 in respect of the month ended 31 October 2022.
An aggregate amount of 5.33000 cents (R0.05330) per Satrix Rafi 40 security is declared as follows:
Dividend
Alpha Code: STXRAF Dividend Dividend Dividend (64N =/less than REIT Total
DTA)
Foreign SA Foreign SA Foreign SA
Distribution Source type Local Listed Listed Listed Local
Net Distribution Reinvested Yes Yes Yes Yes Yes
Source of Funds (Country Code) ZA GB NL NL ZA
Subject to Foreign Withholding tax No No No Yes No
Gross Foreign Rate (cents per unit) 1.16242 0.32429 0.22925
Foreign Tax % withheld at source 15.00000%
Foreign Tax amount per unit 0.03439
DTA with Source Country 10%
Foreign Tax Reclaim % 5%
Portfolio/Management Cost 0.03272
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 2.70706 1.16242 0.32429 0.16214 0.97409 5.33000
**Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 2.70706 1.16242 0.32429 0.19653 0.97409
SA Withholding Tax % 20.00000% 20.00000% 20.00000% 10.0000% Note 1
SA Withholding Tax amount per unit 0.54141 0.23248 0.06486 0.01965
Local Net Rate 2.16565 0.92994 0.25943 0.14249 0.97409 4.47160
Note 1: Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for non-residents
it is subject to 20% SA withholding tax. The Gross rate for non-residents is 0.97409 cents per unit and the net rate is 0.77927 cents per unit.
Notice is hereby given that the following dates are of importance in regard to the distribution for the month ended 31 October 2022 by the
ETF to holders of Satrix Rafi 40 securities:
Last day to trade “cum” distribution: Tuesday, 15 November 2022
Securities trade “ex” distribution: Wednesday, 16 November 2022
Record date: Friday, 18 November 2022
Payment date: Monday, 21 November 2022
The distribution will be paid on Monday, 21 November 2022 to all securities holders recorded in the register on Friday, 18 November
2022.
*Withholding Tax on Interest (WTI) came into effect on 1 March 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.
The distribution (excluding the dividend tax as detailed above) will:
• where Satrix RAFI 40 securities are held on capital account be added to the base cost of each Satrix RAFI 40 security for capital gains tax
purposes; or
• where Satrix RAFI 40 securities are held as trading stock be regarded as part of the cost of acquiring a Satrix RAFI 40 security.
Sandton
10 November 2022
JSE Sponsor
Vunani
Date: 10-11-2022 11:00:00
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