South African Reserve Bank Act, 1989 (Act No. 90 of 1989)

Regulations Relating to the South African Reserve Bank

Chapter VI : Allocation of Surplus

20. Dividends

Purchase cart Previous page Return to chapter overview Next page

 

20.1Any dividend payable in terms of section 24 of the Act shall be paid to shareholders pro rata to their shareholding.

 

20.2The Bank shall pay a shareholder by—
(a)transmission into the shareholder's nominated bank account; or
(b)a cheque sent to the shareholder's nominated address for receipt of dividends; or
(c)any other means agreed upon between the Bank and the shareholder.

 

20.3Unclaimed dividends may be invested or used by the Bank in a manner approved by the Board and paid to the shareholder without interest upon receipt of a written valid claim.