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Banks (Finance)

Johannesburg Stock Exchange Announces Update on FirstRand Bank Limited Exchange-Traded Notes

Strategic Insights

— 1 min read

Holders of the ALETNC, ALETCN, and ALETNQ exchange-traded notes (ETNs) issued by FirstRand Bank Limited are advised that Alphabet Inc's Class A dividend payout has been synthetically reinvested, resulting in an increase in the fractional number of shares each ETN references. This update affects the daily published net asset value (NAV) of the ETNs, which can be viewed on the RMB website.

Key Takeaways:

  • Alphabet Inc's Class A paid a dividend of $0.21 per share on Monday, 15 September 2025.
  • The dividend was synthetically reinvested, net of all taxes, charges, and fees, at the US closing price on Monday, 15 September 2025.
  • The result is an increase in the fractional number of shares each ETN references, with no distribution or payment made.
  • The effective tax rate is 15.00%.
  • The reinvestment amount is $0.1785 per share.
  • The reinvestment price is $251.61 per share.
  • The daily published NAV has been updated to include the effect of the dividend payout.
  • The NAV update is available on the RMB website at https://www.rmb.co.za/page/inward-listed-etns.
  • The NAV formulae for the instruments can be found on the FirstRand Bank Limited website.

Statistics:

  • Dividend amount: $0.21 per share
  • Effective tax rate: 15.00%
  • Reinvestment amount: $0.1785 per share
  • Reinvestment price: $251.61 per share
  • Date of dividend payout: Monday, 15 September 2025

Sources:

  • Johannesburg Stock Exchange company announcement: FirstRand Bank Limited
  • FirstRand Bank Limited: Debt Investors Centre: Prospectuses and Programme Memoranda
  • FirstRand Bank Limited: Debt Investors Centre: JSE Listed Instruments
  • RMB website: Inward Listed ETNs
  • Alphabet Inc: Class A shares
  • US closing price: Monday, 15 September 2025

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