Pan African Resources has corrected its previously announced final dividend to ZAR 0.65 per ASX-listed CDI after identifying a decimal placing error. The unfranked distribution remains subject to a default 20% South African withholding tax, with payment scheduled for 15 December 2026.
- Corrected final dividend of ZAR 0.65 per CDI
- Decimal placing error identified in prior announcement
- 4 December 2026 record date and 15 December payment date
- Default South African withholding tax rate of 20%
- AUD equivalent expected on 19 November 2026
Dividend Correction Sets ZAR 0.65 Amount
Pan African Resources PLC (ASX:PAF) has corrected the amount of its final dividend to ZAR 0.65 per CDI, citing a decimal placing error in the announcement issued on 16 September. The filing does not state the amount originally reported, but confirms that ZAR 0.65 is the corrected distribution for the six months ended 30 June 2026.
For Australian investors, the correction matters more than the administrative wording: the payment is made in South African rand at source, while PAF CDI holders will receive the proceeds in Australian dollars. The AUD equivalent is not yet available and is scheduled to be released on 19 November 2026.
Record Date and Payment Timetable
The CDI will trade ex-dividend from 3 December, with the record date set for 4 December and payment due on 15 December 2026. Securityholder approval is listed as a required condition, with 19 November given as the determination date; the extracted filing does not clearly show whether that approval has already been received.
The dividend is unfranked and carries a default South African withholding tax rate of 20%. Eligible holders may claim a lower treaty rate or an exemption, where applicable, by lodging the relevant tax documentation before the record date. That makes the eventual cash received dependent not only on the corrected headline amount, but also on each holder’s tax position.
Payment Instructions Could Affect Timing
PAF says CDI holders without valid banking instructions by the record date will have their dividend withheld without interest until suitable details are supplied. Holders can instead elect to receive payment through Computershare’s global wire service into an overseas bank account, but the filing’s practical message is straightforward: an incomplete payment mandate can delay the distribution even after the dividend becomes payable.
Bottom Line?
The key near-term checkpoints are the 19 November approval and AUD conversion update, while holders should assess the after-tax amount rather than rely on the ZAR headline alone.
Questions in the middle?
- What dividend amount appeared in the 16 September announcement before the decimal correction?
- Will the required securityholder approval be confirmed on 19 November 2026?
- What AUD equivalent will CDI holders receive after currency conversion and withholding tax?