Dividend information​

Our policy is to consider dividends on an annual basis.

On 06 November 2024, the directors approved a dividend (number 91) of 14 US cents per share which will be paid to shareholders on 13 January 2025. This dividend was declared after year-end and was not included as a liability at the end of the financial year.

The 2024 dividend is covered 3 times by Adjusted earnings per share⁽¹⁾. The group aims to declare ongoing annual dividends, and over time achieve a long-term average earnings to dividend ratio of three to one.

⁽¹⁾ Adjusted earnings per share is Earnings per share excluding special items and plantation fair value price adjustment.

Dividend announcement

The directors have resolved to declare a gross cash dividend (number 91) of 14 US cents per share, payable in ZAR at an exchange rate (US$1 = ZAR) of 17.62526, being 46.75364 cents per share, for the year ended September 2024 out of income, in respect of Sappi ordinary shares in issue on the record date set out below.

The South African dividend tax (DT) rate is 20% and the net dividend payable to shareholders who are not exempt from DT is 197.40291 cents per share. Sappi currently has 599,418,940 ordinary shares in issue. The income tax reference number is 9175203711.

In compliance with the JSE Listings Requirements the salient dates in respect of the dividend are detailed below:

Currency conversion determined on: 06 November 2024

Declaration and finalisation date: 07 November 2024

Last day to trade to qualify for the dividend: 07 January 2025

Shares commence trading ex-dividend: 08 January 2025

Record date: 10 January 2025

Payment date: 13 January 2025

Dividends payable to shareholders on the South African register will be paid in South African Rand and all dividends attributable to holders of American Depository Receipt (ADR) shares on the New York Stock Exchange will be dealt with in accordance with their custody agreements in place with their local custodian.

Certificated shareholders who previously held their shares on the UK register, which has subsequently been discontinued, shall be paid in Pounds Sterling at the ruling exchange rate at the time.

No currency elections are permitted.

All shareholders need to ensure that their current bank mandates with their service providers are up to date. Furthermore, shareholders who have not yet done so, should submit their service providers with their tax numbers and other relevant information for dividend tax purposes. Where shareholders qualify for withholding tax exemptions, they need to ensure that such exemption applications have been lodged with their service providers.

Certificated and own name shareholders can call Computershare in South Africa on 0861 100 950 for assistance in this regard.

Share certificates will not be dematerialised or rematerialised from 07 January 2025 to 10 January 2025, both days inclusive.