In its interim results announcement for the six months ended 30 June 2014 published on 7 August 2014, Old Mutual announced an interim dividend of 2.45p per share or its equivalent in other currencies of payment using exchange rates prevailing on 11 September 2014. The Company also announced that shareholders on the South African, Zimbabwe and Malawi branch registers and the Namibian section of the principal register would be paid the local currency cash equivalents of the dividend (subject to deduction of local dividend withholding taxes, where applicable) under dividend access trust (or, in South Africa, dividend access company) arrangements established in each country and those shareholders who hold their shares through Euroclear Sweden AB, the Swedish central securities depository, would be paid the equivalent of the dividend in Swedish kronor. In the case of Zimbabwe, the local currency equivalent would be denominated in US dollars.
The currency equivalents of the Interim Dividend have now been established and are as follows:
- South Africa: 43.62740 South African cents per share
- Malawi: 15.71 Malawi kwacha per share
- Namibia: 43.62740 Namibian cents per share
- Zimbabwe: 3.98 US cents per share
- Sweden: 0.28 Swedish kronor per share
These currency equivalents have been calculated using the following exchange rates:
- South Africa: 17.8071 Rand/£
- Malawi: 641.10 Malawi kwacha/£
- Namibia: 17.8071 Namibian dollars/£
- Zimbabwe: 1.6230 US dollars/£
- Sweden: 11.5561 Swedish kronor/£
Dividend Tax will be withheld from the amount of the gross dividend of 43.62740 South African cents per share paid to South African shareholders at the rate of 15% unless a shareholder qualifies for exemption. After the Dividend Tax has been withheld, the net dividend will be 37.08329 South African cents per share. The Company had a total of 4,905,640,582 shares in issue at the date on which the dividend was announced, 7 August 2014. In South Africa, in respect of the Company's dividend access share arrangements, the dividend will be distributed by Old Mutual Dividend Access Company (Pty) Limited, a South African company with tax registration number 9460/144/14/1. No Secondary Tax on Companies (STC) credits will be used for the payment of the dividend.
The record date for this dividend payment is the close of business on 26 September 2014 for all the exchanges where the Company's shares are listed. The last day to trade cum-dividend will be 18 September 2014 on the JSE, 19 September 2014 on the Namibian, Zimbabwe and Malawi Stock Exchanges and 23 September 2014 for the London Stock Exchange. The shares will trade ex-dividend from the opening of business on 19 September 2014 on the JSE, from the opening of business on 22 September 2014 on the Namibian, Zimbabwe and Malawi Stock Exchanges and from the opening of business on 24 September 2014 on the London Stock Exchange.
Share certificates for shareholders on the South African register may not be dematerialised or rematerialised between 19 September 2014 and 26 September 2014, both dates inclusive. Transfers between the registers may not take place between 18 September 2014 and 26 September 2014, both dates inclusive.