Dividend Policy
The Directors will target full year ordinary dividends that are covered by Adjusted Headline Earnings between 1.50 and 2.00 times. The Directors will target an interim dividend at a level of 40% of the current year interim Adjusted Headline Earnings. Any dividends will take into account the Company’s underlying cash generation, fungibility of earnings, targeted liquidity and solvency levels, business strategy needs and market conditions at the time. Given the profile of earnings and above considerations, it is anticipated that the dividend cover may vary between reporting periods and dividends will be set using the full flexibility of the range.
The Company will declare dividends in South African Rand (ZAR). Conversion rates for non-South African Shareholders 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
Per share
Exchange rate announce date
Record date
Payment date
Final 2019
R0.75
23 March 2020
03 April 2020
04 May 2020
Interim 2019
R0.45
10 September 2019
20 September 2019
14 October 2019
Final 2018
R0.72
18 March 2019
29 March 2019
29 April 2019
Special 2018
R1.00
11 September 2018
21 September 2018
16 October 2018
Interim 2018
R0.45
11 September 2018
21 September 2018
16 October 2018
Final 2019
Interim 2019
Final 2018
Special 2018
Interim 2018
Per share
R0.75
Exchange rate
23 March 2020
Record date
03 April 2020
Payment date
04 May 2020
Per share
R0.45
Exchange rate
10 September 2019
Record date
20 September 2019
Payment date
14 October 2019
Per share
R0.72
Exchange rate
18 March 2019
Record date
29 March 2019
Payment date
29 April 2019
Per share
R1.00
Exchange rate
11 September 2018
Record date
21 September 2018
Payment date
16 October 2018
Per share
R0.45
Exchange rate
11 September 2018
Record date
21 September 2018
Payment date
16 October 2018