The Group’s dividend policy aims to grow dividends in line with diluted normalised headline earnings growth.
Following the completion of our R2 billion share buy-back programme in November 2018, we indicated that our future capital distribution will be set at a level consistent with our capital deployment plan and a desire to maintain steady solvency ratios under the new regulatory framework.
The Group targets a normalised headline earnings per share dividend cover of 2.5 times within a range of 2.0 times to 3.0 times. In the 2019 financial year, Momentum Metropolitan Holdings declared an ordinary dividend of 70 cents per ordinary share for the full year.
Publication of declaration data | 5 March 2020 |
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Last date to trade cum-dividend | 25 March 2020 |
Trading ex-dividend | 27 March 2020 |
Record date | 30 March 2020 |
Payment date | 31 March 2020 |
The dividend will be subject to local dividend withholding tax at a rate of 20% unless the shareholder is exempt from paying dividend tax or is entitled to a reduced rate.