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  • Last updated

    7:14pm on Dec 08, 2021

Dividend policy

Sibanye-Stillwater’s dividend policy is to return at least 25% to 35% of normalised earnings to shareholders.

Normalised earnings is defined as earnings attributable to the owners of Sibanye-Stillwater excluding gains and losses on financial instruments and foreign exchange differences, impairments, gains and losses on disposal of property, plant and equipment, occupational healthcare expense, restructuring costs, transactions costs, share-based payment on BEE transaction, gain on acquisition, net other business development costs, share of results of equity-accounted investees, after tax, and changes in estimated deferred tax rate. Normalised earnings constitutes pro forma financial information in terms of the JSE Listings Requirements and is the responsibility of the board of directors (Board).



Dividend declaration information

  • H1 2021

    The Sibanye-Stillwater board of directors has declared and approved a cash dividend of 292 SA cents per ordinary share (19.3036 US cents* per share or US 77.2145 cents* per ADR) or approximately R8,544 million (US$565 million*) in respect of the six months ended 30 June 2021 (“Interim dividend”). The Board applied the solvency and liquidity test and reasonably concluded that the company will satisfy that test immediately after completing the proposed distribution. The interim dividend declared of 292 SA cents equates to 35% of normalised earnings for the period ended June 2021.

    Shareholders are advised of the following dates:

    • Interim dividend: 292 SA cents per share
    • Declaration date: Thursday, 26 August 2021
    • Last date to trade cum dividend: Tuesday, 14 September 2021
    • Shares commence trading ex-dividend: Wednesday, 15 September 2021
    • Record date: Friday, 17 September 2021
    • Payment of dividend: Monday, 20 September 2021
    To holders of American Depositary Receipts (ADRs):

    • Each ADR represents 4 ordinary shares
    • ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 16 September 2021
    • Record date: Friday, 17 September 2021
    • Approximate date of currency conversion: Monday, 20 September 2021
    • Approximate payment date of dividend: Friday, 1 October 2021

    September 21, 2021: Important notice to holders of Sibanye-Stillwater shares from BNY Mellon [PDF]


    Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 15 September 2021 and Friday, 17 September 2021 both dates inclusive.

    Assuming an exchange rate of R15.1267/US$1*, the dividend payable on an ADR is equivalent to 77.2100 United States cents for Shareholders liable to pay dividend withholding tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.

    * Based on an exchange rate of R15.1267/US$ at 23 August 2021 from IRESS.

  • YE 2020

    Sibanye-Stillwater declared a final dividend of 321 SA cents (2019: nil) per share, together with the interim dividend of 50 SA cents (2019: nil) per share (declared and paid), this brings the total dividend for the year ended 31 December 2020 to 371 SA cents (2019: nil) per share, which amounts to 35% of normalised earnings.

    • Declaration date: Thursday, 18 February 2021
    • Last date to trade cum dividend: Tuesday, 16 March 2021
    • Shares commence trading ex-dividend: Wednesday, 17 March 2021
    • Record date: Friday, 19 March 2021
    • Payment of dividend: Tuesday, 23 March 2021
    To holders of American Depositary Receipts (ADRs):

    • Each ADR represents 4 ordinary shares;
    • ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 18 March 2021;
    • Record date: Friday, 19 March 2021;
    • Approximate date of currency conversion: Tuesday, 23 March 2021; and
    • Approximate payment date of dividend: Thursday, 1 April 2021

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