Old Mutual - second interim dividend
The directors of Old Mutual plc (the ˘company÷) have declared a second interim dividend for the year ended 31 December 2017 of 3.57p per share (the ˘Second Interim Dividend÷), which will be paid on Monday, 30 April 2018. Shareholders on the South African, Zimbabwean and Malawian branch registers and the Namibian section of the principal register will be paid the local currency cash equivalents of the Second Interim Dividend under dividend access trust or similar arrangements established in each country. Shareholders who hold their shares through Euroclear Sweden AB, the Swedish nominee, will be paid the cash equivalent of the Second Interim Dividend in Swedish kronor.
Dividends in currencies other than sterling will be converted at our average effective exchange rate after taking into account hedging activities and timing of remittances for the relevant period. Accordingly, shareholders in South Africa and Namibia will receive the full year effective hedge rate achieved by the company on rand forward sales undertaken in respect of rand flows supporting the 2017 interim dividends. Shareholders in Zimbabwe, Malawi and Sweden will be converted in to local currency at the daily weighted average exchange rate for the six month period from 1 July to 31 December 2017. The local currency cash equivalents of the Second Interim Dividend are therefore as follows:
*South Africa: 66.50482 South African cents per share
*Malawi: 34.14 Malawian kwacha per share
*Namibia: 66.50482 Namibian cents per share
*Zimbabwe: 4.71 US cents per share
*Sweden: 0.39 Swedish kronor per share
These currency equivalents have been calculated using the following exchange rates:
*South Africa: 18.6288 Rand/GBP
*Malawi: 956.38 Malawian kwacha/GBP
*Namibia: 18.6288 Namibian dollars/GBP
*Zimbabwe: 1.3182 US dollars/GBP
*Sweden; 10.8460 Swedish kronor/GBP
Dividend Tax will be withheld at the rate of 20% from the amount of the gross dividend of 66.50482 South African cents per share paid to South African shareholders unless a shareholder qualifies for exemption. After the Dividend Tax has been withheld, the net dividend will be 53.20386 South African cents per share. The company had a total of 4 932 779 577 shares in issue at todayĂs date. In South Africa, the dividend will be distributed by Old Mutual Dividend Access company (Pty) Limited, a South African company with tax registration number 9460/144/14/1, in terms of the companyĂs dividend access share arrangements.
The record date for this dividend payment is the close of business on Friday, 6 April 2018 for all the exchanges where the companyĂs shares are listed. The last day to trade cum-dividend will be Wednesday, 28 March 2018 on the Malawian Stock Exchange, Tuesday 3 April 2018 on the JSE and on the Namibian and Zimbabwean Stock Exchanges and Wednesday, 4 April 2018 on the London Stock Exchange. The shares will trade ex-dividend from the opening of business on Thursday, 29 March 2018 on the Malawian Stock Exchange, from the opening of business on Wednesday, 4 April 2018 on the JSE and on the Namibian and Zimbabwean Stock Exchanges and from the opening of business on Thursday, 5 April 2018 on the London Stock Exchange.
Share certificates for shareholders on the South African register may not be dematerialised or rematerialised between Wednesday, 4 April 2018 and Friday, 6 April 2018, both dates inclusive. Transfers between the registers may not take place between Tuesday, 3 April 2018 and Friday, 6 April 2018, both dates inclusive. Trading in shares held on the Namibian section of the principal register through Old Mutual (Namibia) Nominees (Pty) Ltd. will not be permitted between Tuesday, 3 April 2018 and Friday, 6 April 2018, both dates inclusive.