Page 54 - Chapters 17 & 18 - Dividends & Dividend Tax

Example

3. TechAps (Pty) Ltd declared a dividend of R2,00 per

share on 15 December 2013 that is payable to all

shareholders registered on 31 December 2013.

TechAps (Pty) Ltd paid the total dividend of R10 000

000 to its shareholders on 5 January 2014. One of its

shareholders, a portfolio of a CIS securities (a

regulated intermediary), holds 20% of its shares. The

other shares are held by natural persons who are

residents. The CIS in securities paid a dividend of R20

000 000 (which includes the dividends received from

TechAps (Pty) Ltd) to its unit holders on 28 February

2014. All its unit holders are natural persons who are

residents in South Africa.