Dividend declarations

 

The directors have declared the following cash dividends during the year: 
               
   

Pick n Pay Stores Limited

     

Pick n Pay Holdings Limited

 

 

 

2012 
Cents per 
share 

2011 
Cents per 
share 

Growth 

     

2012 
Cents per 
share 

2011 
Cents per 
share 

Growth 

 

Interim dividend 

   

22.50 

 

37.00 

(39.2)

       

10.91 

 

17.94 

(39.2)

 

Final dividend 

   

108.35 

 

105.50 

2.7 

       

52.57 

 

51.34 

2.4 

 

Normal dividend 

   

98.50 

 

105.50 

(6.6)

       

47.79 

 

51.34 

(6.9)

 

Additional dividend in respect of STC no longer payable 

   

9.85 

 

— 

         

4.78 

 

— 

   

Total dividend 

   

130.85 

 

142.50 

(8.2)

       

63.48 

 

69.28 

(8.4)

 

Normal dividend 

   

121.00 

 

142.50 

(15.1)

       

58.70 

 

69.28 

(15.3)

 

Additional dividend in respect of STC no longer payable 

   

9.85 

 

— 

         

4.78 

 

— 

   

The final dividend per share of 108.35 cents for Pick n Pay Stores Limited and 52.57 cents for Pick n Pay Holdings Limited includes an additional amount to be paid to shareholders in respect of the 10% secondary tax on companies (STC) no longer payable by the Group. 

The Group intends to maintain its dividend cover at 1.33, however with the additional dividend declared to shareholders referred to above, the dividend cover for the current year is 1.23 times. 

Pick n Pay Stores Limited 

Notice is hereby given that the directors have declared a final dividend (number 88) of 108.35 cents per share out of income reserves. 

The dividend declared is subject to dividend withholding tax at 15%. 

The total Secondary Tax on Companies (STC) utilised as part of this declaration amounts to R216 474. The amount of ordinary shares in issue at the date of this declaration is 480 397 321 and consequently the STC credits utilised per share amount to 0.05 cents per share. 

In determining the dividends tax to withhold, STC credits must be taken into account. Accordingly, the dividend to use for determining the dividend tax is 108.30 cents per share. The tax payable is 16.25 cents per share, leaving shareholders who are not exempt from dividends tax with a net dividend of 92.10 cents per share. 

Pick n Pay Holdings Limited 

Notice is hereby given that the directors have declared a final dividend (number 61) of 52.57 cents per share out of income reserves. 

The dividend declared is subject to dividend withholding tax at 15%. 

The total Secondary Tax on Companies (STC) utilised as part of this declaration amounts to R14 525 753. The amount of ordinary shares in issue at the date of this declaration is 527 249 082 and consequently the STC credits utilised per share amount to 2.76 cents per share. 

In determining the dividends tax to withhold, STC credits must be taken into account. Accordingly, the dividend to use for determining the dividend tax is 49.81 cents per share. The tax payable is 7.47 cents per share, leaving shareholders who are not exempt from dividends tax with a net dividend of 45.10 cents per share. 

For both companies, the last day of trade in order to participate in the dividend (CUM dividend) will be Friday, 1 June 2012. The shares will trade ex dividend from the commencement of business on Monday, 4 June 2012 and the record date will be Friday, 8 June 2012. 

The dividends will be paid on Monday, 11 June 2012. 

Share certificates may not be dematerialised or rematerialised between Monday, 4 June 2012 and Friday, 8 June 2012, both dates inclusive. 

 

On behalf of the Boards of directors 

Debra Muller
Company Secretary 

17 April 2012 

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