Dividends are recognised in the period in which the dividends are declared. These dividends are recorded and disclosed as dividends paid in the statement of changes in equity. Dividends proposed or declared subsequent to the year end are not recognised at the financial year end, but are disclosed in the notes to the annual financial statements as an event after reporting period.

All unclaimed dividends are held in trust until claimed by the relevant shareholder or the relevant shareholder’s claim to such dividends prescribes. In total 75% of the unclaimed dividends which have prescribed are allocated to be utilised by the Exxaro Chairman’s Fund, while 25% of the unclaimed dividends are retained in the company to allow funding for any future dividend claims that the company might want to settle despite the prescription period having lapsed.