Hammerson plc set the South African rand exchange rate for its interim dividend at ZAR 21.7444 per GBP 1, the company said on Tuesday.
The board declared a 9.67 pence per ordinary share interim dividend for the period ending December 31, 2026, with South African shareholders receiving a gross amount of 210.26835 rand cents per share. After a 20% UK withholding tax, the net dividend amounts to 168.21468 rand cents per share.
Qualifying South African tax residents may claim back an additional 5% from HM Revenue and Customs under the UK-South Africa double tax agreement, reducing the net dividend to 157.70126 rand cents per share if successful.
The dividend will be treated as a Property Income Distribution for UK tax purposes and qualifies as a foreign dividend for South African income tax and dividends tax. South African Dividends Tax applies at 20%, subject to exemptions or reduced rates where applicable.
Shareholders on the UK principal register and South African branch register will be recorded on September 4, with payments scheduled for October 15. The Dividend Reinvestment Plan will settle purchases on October 19 in the UK and October 29 in South Africa, subject to market conditions.
No scrip dividend alternative will be offered, and partial elections are not permitted under the DRIP. Fractional entitlements will be rounded down to the nearest whole number, with residual amounts paid in cash to South African shareholders.
