Change in SA Dividend Withholding Tax Rate

About this update from Schroder European Real Estate Investment Trust Plc

[{"type":"text","content":"\n \nRNS Number : 0884Y Schroder Eur Real Est Inv Trust PLC 28 February 2017  \n\n \n28 February 2017\n \nCHANGE IN SOUTH AFRICAN DIVIDEND WITHHOLDING TAX RATE\n \nThe 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.\n \nOn 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.\n \n\n\n\n\n \nDeclared dividend\n \n\n\n \nExchange rate\n \n\n\n \nDividend in South African cents per share\n \n\n\n\n\n \n1.0 euro cents per share\n \n\n\n \n13.85250\n \n\n\n \n13.85250\n \n\n\n\n\n \nDividend 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.\n \nAfter the dividend tax has been withheld, the net dividend will be 11.08200 South African cents per share.\n \nFor 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.\n\n \n\n \nEnquiries:\n \nDuncan Owen/Tony Smedley\nSchroder Real Estate Investment Management Limited                                Tel: 020 7658 6000\n \nRia Vavakis\nSchroder Investment Management Limited                                 &nb...

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