Dividend Policy

The Directors will target a progressive dividend that is guided by underlying cash generation with the aim of delivering sustainable dividend growth over time. Dividend declarations will consider the Group’s liquidity and solvency targets, available cash balances, strategic capital requirements as well as prevailing market and regulatory conditions. Dividends are subject to Board approval and may be adjusted to preserve financial resilience and support long-term business objectives.

The Company will declare dividends in South African Rand (ZAR). Shareholders on registers outside of South Africa will receive local currency equivalents of the dividend that will be communicated before dividends are paid. The Company may revise its dividend policy from time to time.

Dividend Tax Considerations

South Africa levies a 20% dividend withholding tax on dividends paid to shareholders unless they are exempt from dividend tax.

Shareholders that are tax resident in jurisdictions other than South Africa may qualify for a reduced rate under a double taxation agreement with South Africa.

To apply for this reduced rate, non-SA taxpayers should complete and submit a declaration form to the respective registrars for the jurisdiction on which register you hold the relevant shares. View details of the registrars on our Shareholders Centre page. Please do not send the forms to Old Mutual.

For any queries relating to your dividend tax please consult a financial adviser.

Dividend tax declaration form