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Steinhoff declares dividend

Steinhoff International Holdings NV said Aug. 22 that its board declared a dividend of 419.34 cents on its preference shares.

The South African retailer will pay the dividend on Oct. 14 to shareholders of record on Oct. 11.

The dividend will be paid in South African currency, subject to a local dividend tax rate of 20%.

Steinhoff, which is recovering from issues brought about by the accounting irregularities that surfaced in December 2017, completed its financial restructuring last week.

As of Aug. 21, US$1 was equivalent to 15.23 South African rand.