2007 Annual Report - Sappi

Notes to the group annual financial statements continued
for the year ended September 2007
US$ million 2007 2006
8. Dividends
Dividend number 83 paid on 08 January 2007: 30 US cents per share (2006:
30 US cents per share), net of dividend attributable to treasury shares. (68) (68)
On 08 November 2007, the directors declared a dividend (number 84) of 32 US cents per share (US$73 million) to be paid to
shareholders on 08 January 2008. This dividend was declared after year-end and was not included as a liability in these
financial statements.
In compliance with the requirements of STRATE, the JSE Limited’s electronic settlement system which is applicable to Sappi,
the salient dates in respect of the dividend will be as follows:
Last day to trade to qualify for dividend Thursday, 27 December 2007
Date on which shares commence trading ex-dividend Friday, 28 December 2007
Record date Friday, 04 January 2008
Payment date Tuesday, 08 January 2008
Dividends payable from the Johannesburg transfer office will be paid in South African Rands except that dividends payable
to nominee shareholders in respect of shares which they hold on behalf of non-residents of the Republic of South Africa will
without exception be paid in United States Dollars. There will not be any currency election.
Dividends payable from the London transfer office will be paid in British Pounds Sterling or in the case of shareholders with
registered addresses in the USA, in United States Dollars.
Dividends payable other than in United States Dollars will be calculated at the respective rates of exchange ruling at 01:30
Central European Time as per Reuters on Tuesday, 18 December 2007, and announced on Tuesday, 18 December 2007.
There will not be any de-materialisation nor re-materialisation of Sappi Limited share certificates from 28 December 2007 to
04 January 2008, both days inclusive.
US$ million 2007 2006
9. Assets held for sale
Nash mill
Land and buildings
Cost – 24
Accumulated depreciation – (4)
Assets held for sale – 20
In May 2006, Sappi stopped paper production at the Nash mill. The mill had sustained losses as a result of escalating costs
of production, especially energy, which had made it uncompetitive. During fiscal year 2006 the plant and equipment had been
sold locally, with some being transferred elsewhere in the group. Most of the products previously manufactured at the mill
are now produced elsewhere in the group. In March 2007 Sappi sold the site of the Nash mill, Hemel Hempstead, UK for
US$48 million (GBP24.5 million). A pre-tax profit, net of related costs, of US$26 million was realised on the sale.
These assets were held in Sappi Fine Paper Europe.
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