For the 8 weeks to 19 February 2017, total sales increased by 0.6% and comparable sales decreased by 1.5%. South African total and comparable sales growths are 2.5% and 0.4% respectively, while the equivalents for ex-SA are both negative. Sales growth in January 2017 was negative but in February accelerated positively.

It is likely that several key economic drivers in SA will improve in 2017 – lower food price inflation, some Rand strength and possibly lower interest rates. High levels of uncertainty and volatility complicate any economic guidance however. Despite the slow start to the financial year, we have a reasonable expectation of a satisfactory year ahead.

The financial information on which this outlook statement is based has not been reviewed and reported on by the Company’s external auditors.

 

Dividend

Notice is hereby given that a gross final cash dividend of 224.80 cents per share, in respect of the year ended December 2016 has been declared. The number of shares in issue at the date of this declaration is 217,136,334. 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 (“DWT”) rate of 15% which will result in a net dividend of 191.08 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, 14 March 2017
First trading day ex dividend on the JSE:
Wednesday, 15 March 2017
Record date:
Friday, 17 March 2017
Payment date:
Monday, 20 March 2017

 

Share certificates may not be dematerialised or rematerialised between Wednesday, 15 March 2017 and Friday, 17 March 2017, 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 February 2017