Zeder: Green Light for Special Dividend Boosts Investor Spirits

  • Zeder Investments gains South African Reserve Bank approval, paving the way for a 5.0 cents special dividend per share.
  • Shareholders await the dividend's distribution following a series of announcements and regulatory scrutiny.
  • Revised timeline set, with trading ex-dividend commencing on August 23 and payment scheduled for August 28.
Published by
Lethabo Ntsoane

Zeder Investments Limited (ZED) achieved a significant milestone as the South African Reserve Bank (SARB) granted its approval for the company’s proposed special dividend. This move marks the successful culmination of a series of announcements and deliberations regarding the distribution of a non-recurring special gross dividend of 5.0 cents per Zeder share, a decision that was subject to regulatory endorsement.

The saga began with a declaration announcement on 25 July 2023, followed by an update on 8 August 2023, both of which garnered keen attention from Zeder’s shareholders. The initial declaration announced the approval of a special dividend from the company’s income reserves, sparking excitement among investors. However, the announcement was tempered by the caveat that the dividend’s disbursement hinged on the obtainment of the required SARB approval.

The subsequent update on 8 August 2023 disclosed that Zeder’s board had greenlit the special dividend, but the dividend’s issuance remained dependent on securing the necessary SARB endorsement. The news set off a flurry of anticipation among shareholders, who eagerly awaited further developments.

This chapter of uncertainty came to a decisive close on 15 August 2023, as Zeder proudly announced the successful receipt of the crucial SARB approval, signifying the fulfillment of the previously mentioned condition. The reverberations of this announcement were palpable as the company’s shares exhibited a surge in trading activity.

Revised Salient Dates for the Special Dividend

DateEvent
Finalisation DateTuesday, 15 August 2023
Last Day to Trade Cum DividendTuesday, 22 August 2023
Trading Ex-Dividend CommencesWednesday, 23 August 2023
Record DateFriday, 25 August 2023
Date of PaymentMonday, 28 August 2023

Shareholders are advised that between Wednesday, 23 August 2023, and Friday, 25 August 2023, inclusively, share certificates cannot be dematerialized or rematerialized. The company emphasizes that all other pertinent details concerning the Special Dividend, including tax implications, remain consistent with the information provided in the initial Declaration Announcement.

As the news reverberated through the market, Zeder expressed its appreciation for the unwavering support exhibited by its shareholders and stakeholders throughout this journey. The successful navigation of the regulatory process underscores the company’s commitment to fostering value for its investors.

The culmination of this process was met with enthusiasm among Zeder’s shareholders, who now eagerly anticipate the impending distribution of the special dividend. The 5.0 cents per Zeder share represents more than just a monetary value; it symbolizes the fruition of a strategic decision that underscores Zeder’s dedication to its shareholders.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo