Dividend information​

Our policy is to consider dividends on an annual basis.

On 09 November 2016, the directors declared a dividend (number 86) of 11 US cents per share (US$59m) which will be paid to shareholders on 17 January 2017.  This dividend was declared after year-end and was not included as a liability at the end of the financial year.
The 2016 dividend was covered five times by basic earnings per share.  The group aims to declare ongoing annual dividends, and over time achieve a long-term average earnings to dividend ratio of three to one.

Dividend announcement

The directors have resolved to declare a gross dividend (number 86) of 11 US cents per share, payable in ZAR at an exchange rate of (US$1 = ZAR) 13.56686, being ZAR 149.23546 cents per share, for the year ended 25 September 2016 out of income, in respect of Sappi ordinary shares in issue on the record date as detailed below. Holders of Sappi “A” ordinary unlisted shares in issue on the record date shall be entitled to receive 5.5 US cents per share being 50% of the ordinary dividend so declared.

The South African dividend tax rate is 15% and the net dividend payable to shareholders who are not exempt from dividend tax is ZAR 126.85014 cents per share. Sappi currently has 541 446 223 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:

Declaration and finalisation date: 10 November 2016

Last day to trade to qualify for the dividend: 10 January 2017

Shares commence trading ex-dividend: 11 January 2017

Record date: 13 January 2017

Payment date: 17 January 2017

Dividends payable to shareholders on the South African register will be paid in South African Rand and all dividends attributable
to holders of the ADR shares on the NYSE 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 Pound 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 certificate will not be dematerialised or rematerialised from 11 January 2017 to 13 January 2017, both days inclusive.


Robert V Rosenthal
Investor Relations Manager
255 State Street
Boston, Massachusetts 02109
United States of America
+1 617 423 5413
+1 617 423 5494

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