Rex Trueform Group Limited (RTO) has declared a cash dividend for its 6% cumulative preference shares. This announcement impacts the company’s preference shareholders and highlights the company’s financial activities for the six months ending 30 June 2024.
Dividend Details
The declared dividend is set at a rate of 6% per annum, translating to 6.00 cents per preference share. This dividend will be paid on Monday, 22 July 2024. Preference shareholders recorded in the register by close of business on Friday, 19 July 2024, will receive the payment.
Key Dates
Below are the critical dates for Rex Trueform’s preference share dividend:
| Event | Date |
|---|---|
| Last date to trade cum preference dividend | Tuesday, 16 July 2024 |
| Ex-dividend date | Wednesday, 17 July 2024 |
| Record date | Friday, 19 July 2024 |
| Payment date | Monday, 22 July 2024 |
Dividend Tax Details
The preference share dividend has been declared from income reserves. The local dividend tax rate stands at 20%. The gross dividend amount is 6.00 cents per preference share.
The net dividend amount for shareholders exempt from dividend tax is 6.00 cents per share. For shareholders liable to pay dividend tax, the net amount is 4.80 cents per share.
Capital Structure
Rex Trueform’s issued preference share capital includes 140,000 6% cumulative preference shares valued at R2.00 each. The issued ordinary share capital comprises 3,763,017 ordinary shares and 18,627,644 “N” ordinary shares, both of no par value.
| Share Type | Issued Shares |
|---|---|
| Preference shares | 140,000 |
| Ordinary shares | 3,763,017 |
| “N” Ordinary shares | 18,627,644 |
Conclusion
Rex Trueform’s declaration of a 6% cumulative preference share dividend is a positive signal to the market. It highlights the company’s robust financial health and its dedication to shareholder value. Shareholders are encouraged to stay informed about key dates and tax details to maximize their benefits from this dividend.