Business
2024 Interim Dividend - Exchange Rate
2024 Interim Dividend - Exchange Rate.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n\nSHAFTESBURY CAPITAL PLC (the \"Company\" or \"Shaftesbury Capital\")\n \n2024 INTERIM CASH DIVIDEND - EXCHANGE RATE\n \nThis announcement sets out additional information relating to the 2024 interim cash dividend of 1.7 pence per ordinary share (of which 1.0 pence will be paid as a property income distribution (\"PID\") and 0.7 pence will be paid as an ordinary dividend (\"non-PID\")), which is to be paid on Tuesday, 1 October 2024 to all shareholders registered on Friday, 23 August 2024.\n \nExchange rate for 2024 interim cash dividend:\n \nThe Company confirms that the ZAR exchange rate for the 2024 interim cash dividend will be 23.28310 ZAR to 1 GBP, which is the rate determined on Monday, 12 August 2024.\n \nOn this basis, shareholders who hold their shares via the South African register will receive a cash dividend of 39.58127 ZAR cents per ordinary share (34.92465 ZAR cents net of UK withholding tax).\n \nPID, NON-PID AND WITHHOLDING TAXES\n \nThe PID element of the 2024 interim cash dividend (being 1.0 pence) will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply. The non-PID element (being 0.7 pence) will be treated as an ordinary UK company dividend. SA dividends tax will also apply, where applicable. Details of the split (per ordinary share), and withholding taxes are set out below:\n \n\n\n\n\n\n\n\nUK (p)\n\n\nSA (ZAR cents)\n\n\n\n\nTotal (gross)\n\n\n1.7\n\n\n39.58127\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPID (gross)\n\n\n1.0\n\n\n23.28310\n\n\n\n\nUK withholding tax (20%)\n\n\n0.20\n\n\n4.65662\n\n\n\n\nPID (net of UK withholding tax)\n\n\n0.80\n\n\n18.62648\n\n\n\n\nLess effective 5% SA dividends tax for SA shareholders, where applicable*\n\n\n-\n\n\n1.16416\n\n\n\n\nNet PID payable\n\n\n0.80\n\n\n17.46232\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNon-PID\n\n\n0.7\n\n\n16.29817\n\n\n\n\nLess SA withholding tax (20%)\n\n\n-\n\n\n3.25963\n\n\n\n\nNet Non-PID payable\n\n\n0.7\n\n\n13.03854\n\n\n\n\n* Where the 20% SA dividends tax rate applies, this will be 4.65662 ZAR cents per ordinary share on the PID element of the 2024 interim cash dividend, and after UK withholding tax and SA dividends tax have been withheld, the total net 2024 interim cash dividend will be 27.00840 ZAR cents per ordinary share (total net 2024 interim cash dividend where 5% SA dividen...