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 |
|---|---|
| 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.