Last checked at 22 Mar 2023 08:00
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE, MSE, ZSE Share Code: OMU
NSX Share Code: OMM
("Old Mutual" or "the Company")
Ref 19/23
22 March 2023
FINALISATION ANNOUNCEMENT AND DIVIDEND CURRENCY EQUIVALENTS
Shareholders are referred to Old Mutual's Results announcement dated 14 March 2023, wherein the company declared a final dividend of 51 cents per share. The dividend will be payable to all shareholders (except for Old Mutual Limited shareholders on the London Stock Exchange (LSE)) on 17 April 2023. The dividend payment date for Old Mutual Limited shareholders on the LSE is 15 May 2023.
The dividend of 51 cents per ordinary share will be subject to a local dividend tax rate of 20% which will result in a net final dividend, to those shareholders who are not exempt from paying dividend tax, of 40.800 cents per ordinary share. Shareholders who are not exempt or are not subject to a reduced rate in terms of a double taxation agreement, will be subject to a dividend withholding tax at a rate of 20%.
Shareholders on the London, Zimbabwean, Malawian and Namibian registers will be paid in the local currency equivalents of the final dividend. Distributions made through the dividend access trust or similar arrangements established in a country will not be subject to South African withholding tax but may be subject to withholding tax in the relevant country. We recommend that you consult with your tax advisor regarding the in-country withholding tax consequences.
The local currency equivalents of the final dividend have been established as follows:
Malawi | 28.91342 | Malawian kwacha per share |
Namibia | 51.00000 | Namibian cents per share |
United Kingdom | 2.27334 | GBP pence per share |
Zimbabwe | 2,466.15087 | RTGS cents per share |
The local currency equivalents have been calculated using the following exchange rates:
Malawi | 56.69298 | Malawian kwacha per Rand |
Namibia | 1.00000 | Namibian Dollar per Rand |
United Kingdom | 22.43400 | Rand per Pound sterling |
Zimbabwe | 0.02068 | Rand per RTGS dollar |
The timetable released on the Stock Exchange News Service on 14 March 2023 remains unchanged.
Sponsors
JSE | Merrill Lynch South Africa (Pty) Limited |
Malawi Namibia | Stockbrokers Malawi Limited PSG Wealth Management (Namibia) (Proprietary) Limited |
Zimbabwe | Imara Capital Zimbabwe plc |
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Enquiries
Investor Relations Bonga Mriga Interim: Head of Investor Relations |
T: +27 (0)67 866 6348 E: bmriga@oldmutual.com
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Communications: Vuyo Mtawa Head of Communications
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M: +27 (0)68 422 8125 E: VMtawa@oldmutual.com |
Notes to Editors
About Old Mutual Limited
Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 14 countries. Old Mutual's primary operations are in South Africa and the Rest of Africa and it has a niche business in Asia. With over 177 years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of the communities they serve and the broader society on the continent.
For further information on Old Mutual and its underlying businesses, please visit the corporate website at www.oldmutual.com.