REG - Canal+ S.A - DIVIDEND CURRENCY CONVERSION ANNOUNCEMENT

Canal+ SAAnnouncement

Mon 08:00

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RNS Number : 3637H  Canal+ S.A  08 June 2026

 

CANAL+ SA

(Incorporated and registered in France)

Identification number: 835 150 434

ISIN: FR001400T0D6

LEI number: 9695000537F9F73BXN18

LSE share code: CAN

JSE share code: CNP

("CANAL+" or the "Company")

 

CANAL+ SA

 

Dividend Currency Conversion Announcement

 

Issy-les-Moulineaux, 8 June 2026

 

 

CANAL+, the global media and entertainment company, refers shareholders to
the pre-listing announcement published on SENS on 12 May 2026, wherein
shareholders were advised of the proposed dividend payment, announced on 11
March 2026 by the CANAL+ Management Board (as approved by the CANAL+
Supervisory Board) of 2.2 euro cents per CANAL+ ordinary share (representing a
total distribution of c. € 21,572,127.66 based on the number of shares
entitled to dividend as of 31 December 2025) (2025 Final Dividend).

 

The 2025 Final Dividend will be paid as follows:

·    €10,631,582.31 from retained earnings; and

·    €10,940,545.35 from distributable share premiums.

 

As at 11 March 2026, being the 2025 Final Dividend declaration date, the
Company had a total of 991,959,494 ordinary shares in issue, including
11,408,237 ordinary shares held in treasury.

 

The 2025 Final Dividend will be payable on Monday, 15 June 2026 to
shareholders registered on the London Stock Exchange and South African branch
register on Friday, 12 June 2026.

 

The following information in respect of shareholders holding their shares on
the South African branch register is provided in accordance with the JSE
Listings Requirements.

 

The salient dates and other dividend declaration information announced on 12
May 2026 remain unchanged for the 2025 Final Dividend.

 

South Africa Branch Register: Dividends Tax Information

 

French tax implications

 

According to French tax law, the 2025 Final Dividend of € 21,572,127.66
(i.e. 2.2 euro cents per CANAL+ ordinary share) will comprise of the
following:

 

·    return of share premium for € 10,940,545.35 (i.e. 1.11575 euro
cents per CANAL+ ordinary share), which is not qualified as an income and,
therefore, is not subject to dividends withholding tax; and

 

·    dividends for €10,631,582.31 (i.e. 1.08425 euro cents per CANAL+
ordinary share). Dividends paid to non-French tax residents will be subject to
a withholding tax currently levied at a rate of 25%. Non-French tax residents
are invited to contact their stockbroker/trading platform and their tax
advisers to determine whether, and under what conditions, depending on their
own tax situation, they may claim a refund of all or part of the French
withholding tax (the "French WHT").

 

Specific information in respect of the French taxation is contained within the
convening brochure of the Combined Shareholders' General Meeting, available on
the Company's website:  https://www.canalplusgroup.com/en/general-meeting
(https://zaf01.safelinks.protection.outlook.com/?url=https%3A%2F%2Furl.za.m.mimecastprotect.com%2Fs%2Foqn2Cr0qyVsp2Do4Uzh0U4Jhs-%3Fdomain%3Durldefense.com&data=05%7C02%7Cphuti.kgomo%40bowmanslaw.com%7C348536c3f2c94a6b14e808deb63a0756%7C148a5db5bc9242f7ba6dbd676ff42368%7C1%7C0%7C639148557536379780%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=89JGxU3qhNwr2%2BYj8%2FzuaMeNRLpPmjGfI77UitQ%2FAk8%3D&reserved=0)
.

 

South Africa Branch Register: Dividend Rate

 

Shareholders holding their shares on the South African branch register will
receive the 2025 Final Dividend in South African cents, converted at a rate of
EUR1 to ZAR18.96928 Therefore, the equivalent gross 2025 Final dividend of
1.08425 euro cents per CANAL+ ordinary share in South African cents per
ordinary share will be 20.56736.

 

South African tax implications

 

Return of Foreign Capital

 

The portion of the 2025 Final Dividend which comprises a return of share
premium is a return of foreign capital (capital reduction) under South African
tax law, in the amount of €10,940,545.35 (i.e.  1.11575 euro cents per
CANAL+ ordinary share, equivalent to 21.16506 South African cents per ordinary
share). No South African dividend tax will be withheld on the amounts paid to
shareholders as a foreign return of capital. Taxpayers are cautioned to take
advice as to how these amounts should be treated for South African tax
purposes.

 

Foreign Dividend

 

A South African resident holder who receives a foreign dividend in respect of
Shares listed on a South African exchange will generally be entitled to an
exemption from normal tax (i.e. income tax) under section 10B of the Income
Tax Act.

 

The portion of the gross 2025 Final Dividend which comprises a dividend under
French tax law in the amount of €10,631,582.31 (i.e. 1.08425 euro cents per
CANAL+ ordinary share, equivalent to 20.56736 South African cents per ordinary
share) is a "dividend" for South African dividend tax purposes.

 

Accordingly, in addition to the French WHT of 5.14184  South African cents
per ordinary share], such dividend will also be subject to South African
dividends tax on the gross value of the dividend, currently at the rate of
20%, unless the relevant beneficial owner is exempt under the South African
dividend tax rules. South African Dividend Tax (at a rate of 20%) (SA Dividend
Tax), equivalent to 4.11347  South African cents per ordinary share, will be
withheld from the gross 2025 Final Dividend paid to shareholders on the South
Africa branch register, unless a shareholder qualifies for an exemption. After
French WHT and SA Dividend Tax has been withheld, the net dividend will be
11.31205  South Africa cents per ordinary share.  Each shareholder should
seek advice to establish if they qualify for exemption from the South African
dividend tax and how to access exempt status.

 

 

Rebate

 

It may be possible for South African shareholders of JSE listed shares to
claim a rebate of the French taxes withheld on the dividend portion.  The
France-South Africa double tax agreement provides that the French withholding
should only be applied at a rate of 15% of the gross value of the dividend for
qualifying shareholders.

 

Further, the South African dividend tax applied to the dividend portion may be
reduced having regard to the extent of French tax that should correctly be
withheld per the France-South Africa Double Tax Agreement (i.e. after taking
into account available rebates).

 

Shareholders are cautioned to seek expert advice in this regard.

 

As a general position for South African tax resident shareholders holding
their shares on the JSE that are not exempt from South African dividend tax
and assuming no rebate of French WHT is secured, the consequences would be as
follows:

 

 Dividend                                                                JSE Shareholders

                                                                         (South African cents)
 Gross amount of Dividend per ordinary share                             20.56736
 Less: 25% French dividends tax for shareholders who are non-French tax  (5.14184)
 residents
 Net dividend after French tax                                           15.42552
 Less: 20% SA dividends JSE shareholders who are SA tax residents        (4.11347)
 Net ordinary dividend payable after French tax and SA dividends tax     11.31205

 

If a rebate of French WHT is secured, the following would apply:

 

 Dividend                                                                JSE Shareholders

                                                                         (South African cents)
 Gross amount of Dividend per ordinary share                             20.56736
 Less: 15% French dividends tax for shareholders who are non-French tax  (3.08510)
 residents
 Net dividend after French tax                                           17.48225
 Less: 5% SA dividends JSE shareholders who are SA tax residents         (1.02837)
 Net ordinary dividend payable after French tax and SA dividends tax     16.45388

 

Non-resident holders

 

Non-resident beneficial owners are generally exempt from South African
Dividend Tax in respect of dividends paid on shares listed on the JSE, subject
to the submission of the prescribed declarations and undertakings to the
relevant regulated intermediary.

 

For the avoidance of doubt, Dividend Tax and the information provided above
are of direct application only to shareholders on the South Africa branch
register. Shareholders are advised to consult their local custodians, tax
advisors, or other professional advisors regarding the appropriate tax
treatment of distributions, including the application of any double taxation
agreements and the process for claiming or reclaiming any differences between
French and South African withholding taxes, where applicable.

 

 

Joint JSE Sponsors

BofA Securities

The Standard Bank of South Africa Limited

 

ABOUT CANAL+

CANAL+ is a global media and entertainment company with leading positions in
Europe and Africa. Over 40 million subscribers enjoy the CANAL+ entertainment
platform, which brings together the best local and global films, live sport,
TV series and much more. CANAL+ operates in over 70 countries and has
approximately 15,000 employees.

 

CANAL+ operates across the entire audio-visual value chain, including
production, broadcast, distribution and aggregation. In addition to
its Pay-TV and streaming operations in Europe, Africa and Asia, the combined
group includes: MultiChoice Group, Africa's leading entertainment
platform; STUDIOCANAL, Europe's leading film and television studio, with
worldwide production and distribution capabilities; Dailymotion, a major
international video platform powered by cutting-edge proprietary technology
for video delivery, advertising, and monetisation; CANAL+ Distribution, a
production and distribution company specialising in creating and distributing
diverse content and channels; telecommunication services, through GVA in
Africa and CANAL+ Telecom in the French overseas jurisdictions and
territories. 

 

CANAL+ also has minority stakes in Viaplay (Scandinavia's leading
entertainment provider), Viu (a leading OTT provider in Southeast Asia),
and UGC, a leading French cinema group.

 

canalplusgroup.com/en
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