Dividends

The Board has resolved to amend the group's dividend / capital distribution payment policy from making a single annual payment to making both interim and final distributions with immediate effect. The dividend cover policy of at least three times relative to underlying* earnings per share will apply to both interim and final distributions.

The Company will distribute out of share premium, in lieu of a dividend, 88 RSA cents per share (approximately 13 US cents per share) for the year ended 28 February 2011.

The 2010 financial year saw the Group distributing to shareholders a capital reduction out of share premium, in lieu of a dividend, 90 RSA cents per share (approximately 12 US cents per share).

In 2009 the Group maintained its cash distribution, in lieu of a dividend of 12 US cents per share out of share premium.

In 2008 the Group distributed out of share premium, in lieu of a dividend, 90 RSA cents per share (approximately 12 US cents per share). This is an increase of 20% over the prior year (2007: 72 RSA cents or 10 US cents) which represents a cover of 3,8 times relative to headline earnings.

In 2007 the Group made a cash distribtion to shareholders out of share premium, which represented a cover of 3,7 times headline earnings.

In 2006 the Group made a cash distribution to shareholders out of share premium, which represents a cover of 5,7 times headline earnings.

* Underlying earnings per share excludes goodwill and intangibles impairment, amortisation of acquired intangible assets, profit or loss on sale of assets and businesses, fair value movements on acquisition related financial instruments and unrealised foreign exchange movements