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
| Date | Event |
|---|---|
| Finalisation Date | Tuesday, 15 August 2023 |
| Last Day to Trade Cum Dividend | Tuesday, 22 August 2023 |
| Trading Ex-Dividend Commences | Wednesday, 23 August 2023 |
| Record Date | Friday, 25 August 2023 |
| Date of Payment | Monday, 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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