Massmart’s current dividend policy is to declare and pay an interim and final cash dividend representing a 2.0 times dividend cover unless circumstances dictate otherwise. This interim dividend has been calculated on headline earnings before restructure costs. Notice is hereby given that a gross interim cash dividend of 68.0 cents per share, in respect of the period ended 1 July 2018 has been declared. The number of shares in issue at the date of this declaration is 217,179,142.

The dividend has been declared out of income reserves as defined in the Income Tax Act, 1962, and will be subject to the South African dividend withholding tax rate of 20% which will result in a net dividend of 54.4 cents per share to those shareholders who are not exempt from paying dividend tax. Massmart’s tax reference number is 9900/196/71/9.


The salient dates relating to the payment of the dividend are as follows:
Last day to trade cum dividend on the JSE: Tuesday, 11 September 2018
First trading day ex dividend on the JSE: Wednesday, 12 September 2018
Record date: Friday, 14 September 2018
Payment date: Monday, 17 September 2018


Share certificates may not be dematerialised or rematerialised between Wednesday, 12 September 2018 and Friday, 14 September 2018, both days inclusive.

Massmart shareholders who hold Massmart ordinary shares in certificated form (“certificated shareholders”) should note that dividends will be paid by cheque and by means of an electronic funds transfer (“EFT”) method. Where the dividend payable to a particular certificated shareholder is less than R100, the dividend will be paid by EFT only to such certificated shareholder. Certificated shareholders who do not have access to any EFT facilities are advised to contact the company’s transfer secretaries, Computershare Investor Services at Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196; on 011 370 5000; or on 0861 100 9818 (fax), in order to make the necessary arrangements to take delivery of the proceeds of their dividend.

Massmart shareholders who hold Massmart ordinary shares in dematerialised form will have their accounts held at their CSDP or broker credited electronically with the proceeds of their dividend.


On behalf of the Board

Guy_Hayward_Signature Hans
Guy Hayward Johannes van Lierop
Chief Executive Officer Chief Financial Officer

22 August 2018