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LONDON - Shaftesbury Capital PLC announced Tuesday the exchange rate for its 2025 interim cash dividend has been set at 23.87450 ZAR to 1 GBP, determined on Monday.
The real estate investment trust will pay a total dividend of 1.9 pence per ordinary share on October 1 to shareholders registered as of August 22. The dividend consists of a 1.5 pence property income distribution (PID) and a 0.4 pence ordinary dividend (Non-PID).
Shareholders on the South African register will receive 45.36155 ZAR cents per share, or 38.19920 ZAR cents after UK withholding tax deductions.
The PID portion will be subject to a 20 percent UK withholding tax unless exemptions apply, while the Non-PID element will be treated as an ordinary UK company dividend. South African Dividends Tax will also apply where relevant.
For South African shareholders, the PID element is exempt from income tax but subject to South African Dividends Tax. Some shareholders may qualify for a reduction to 5 percent if requirements are met by the requisite date.
UK shareholders may be eligible for exemption from the 20 percent withholding tax by submitting the required forms to the company’s UK registrar by the dividend record date.
Non-UK shareholders may be able to claim refunds of UK withholding tax through applicable double taxation conventions.
The dividend timetable dates previously announced on July 29 remain unchanged, according to the company’s press release statement.
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