To allow for the dividend calculation, Sanlam’s share register (including Sanlam’s two nominee companies, namely Sanlam Share Account Nominee (Pty) Limited and Sanlam Fundshares Nominee (Pty) Limited), will be closed for all transfers, off-market transactions and dematerialisations or rematerialisations between Wednesday 15 April 2020 and Friday 17 April 2020, both dates included.
Transactions on the JSE via Strate are not affected by this arrangement.
Sanlam’s dividend policy makes a clear distinction between operating earnings (net result from financial services), which is the key driver of dividends, and investment return earned on the capital portfolio. The level of capital allocated to the Group’s operations is determined to ensure that regulatory solvency levels will be maintained within a set target range, taking into account potential volatility in investment market returns. The key features of Sanlam’s dividend policy, and the interaction with discretionary capital, can be summarised as follows: