Old Mutual shareholders to get 6.0 pence as dividend

The board of Old Mutual Plc is recommending a dividend of 6.0 pence per share which is payable to investors subject to approval by the shareholders of the company.

The company, with its headquarters in South Africa, has investment in the Nigerian insurance market.

The firm in a statement noted that shareholders of the company in the South African, Zimbabwe and Malawi branch registers and the Namibian section of the principal register will be paid the local currency cash equivalent of the final dividend under dividend access trust or similar arrangements established in each country.

It added that shareholders holding their shares through Euroclear Sweden AB, the Swedish nominee, would be paid the cash equivalent of the final dividend in Swedish Kronor local currency cash equivalents of the final dividend for all five territories will be determined by the company using exchange rates prevailing at the close of business on 10 April 2014 and will be announced by the company on 11 April 2014.

The company said share certificates for shareholders on the South African register may not be dematerialised or rematerialised between 17 April 2014 and 25 April 2014, both dates inclusive.

It stated that transfers between the registers may not take place between 17 April 2014 and 25 April 2014, both dates inclusive, for registers excluding South Africa and between 17 April 2014 and 28

April 2014, both dates inclusive, in respect of the South African register.

According to the statement, a scrip dividend alternative is not being made available in relation to the final dividend.

The company with 16 million customers in Africa, the Americas, Asia and Europe, originated in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In 2013 financial period, the group reported adjusted operating profit before tax of £1.6bn (on an IFRS basis) and had £294bn of funds under management from core operations.