RCL FOODS -dividend withholding tax rate amendment
Shareholders are referred to the announcement released on the Stock Exchange News Service on 23 February 2017 in which they were advised, inter alia, that the board of directors had resolved to declare an interim gross cash dividend of 10,0 cents per share to shareholders recorded in the register of the company on 21 April 2017.
Shareholders are now advised that, consequent to the announcement by the Minister of Finance of an increase in the dividend withholding tax (DWT) rate from 15% to 20%, in his budget speech of 22 February 2017, the DWT applicable to the gross cash dividend to be paid to shareholders who are not exempt from DWT is 20%.
The net dividend amount is accordingly 8.0 cents per share and not 8.5 cents per share, as previously announced. The remainder of the announcement is unaffected.