Page 53 - Chapters 17 & 18 - Dividends & Dividend Tax

Example

2. EdoCo Ltd declared a dividend of R1,50 per share on 15

August 2013 that is payable to shareholders who are

registered on 31 August 2013. The total dividend of R15

000 000 was paid to a central securities depository

participant (a regulated intermediary) on 1 September

2013. The central securities depository participant paid the

dividend to EdoCo Ltd’s shareholders on 2 September

2013. 20% of EdoCo Ltd’s shares are held by a pension

fund that submitted a declaration to the central securities

depository participant that it is exempt from dividends tax

on 1 September 2013. The other 80% of EdoCo Ltd’s

shareholders are natural persons who are residents in

South Africa.