Zimbabwe Stock Exchange–listed financial services giant Old Mutual Limited has confirmed the finalisation of its interim dividend, with shareholders in Zimbabwe set to receive payments in United States dollars.
The company, on Wednesday, declared an interim dividend of 37 South African cents per share on 10 September 2025, with payment scheduled for 6 October 2025 for most shareholders and 3 November 2025 for those on the London Stock Exchange register.
Zimbabwean shareholders will receive 2.11831 US cents per share, based on an exchange rate of 17.46672 rand per US dollar.
"Shareholders on the London, Malawian, and Namibian registers will be paid in the local currency equivalents of the interim dividend. Shareholders on the Zimbabwean register will be paid the equivalent of the interim dividend in United States dollars," the company stated.
It added that “Distributions made through the dividend access trust or similar arrangements established in a country will not be subject to South African withholding tax but may be subject to withholding tax in the relevant country.
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"We recommend that shareholders consult their tax adviser regarding the in-country withholding tax consequences.”
In Malawi, shareholders will be paid 36.43785 Malawian kwacha per share, reflecting an exchange rate of 98.48068 kwacha per rand. Those in Namibia will receive the full declared dividend at 37 Namibian cents per share, calculated at parity with the South African rand.
Meanwhile, shareholders in the United Kingdom will receive 1.55354 pence per share, using an exchange rate of 23.81650 rand per British pound sterling. Payments to shareholders in these countries will be made in their respective local currencies.
The dividend is subject to a 20% withholding tax for shareholders who do not qualify for exemptions or reduced rates under double taxation agreements. For such investors, the net dividend amounts to 29.6 South African cents per share.
Old Mutual reported that a total of 4.71 billion ordinary shares were in issue at the time of declaration.
The company also urged international shareholders to consult their tax advisers, noting that local withholding tax regulations may apply in addition to South African rules.
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