Dividends

Our dividend policy

It is the Board’s current intention to target a dividend payout ratio of approximately 50% of statutory NPAT, after non-controlling interests, and before amortisation of intangibles, per annum. The Board intends to pay dividends quarterly in arrears in the months of December, March, June and September each year, and it is expected that all future dividends will be franked to the maximum extent possible.

Given the anticipated listing date, no dividends will be paid for the FY17 year. The Board anticipate that the first dividend to Shareholders will be in relation to in the quarter ending 30 September 2017, and expected to be paid in December 2017, subject to the factors outlined below.

The payment of a dividend by the Company is at the discretion of the Board and will be a function of a number of factors, including the general business environment, the operating results, cash flows, the financial condition of the Company, future funding requirements, capital management initiatives, taxation considerations (including the level of franking credits available), any contractual, legal or regulatory restrictions on the payment of dividends by the Company, and any other factors the Board may consider relevant.

No assurances can be given by any person, including the Directors of the Board, about the payment of any dividend and the level of franking on any such dividend. See Section 9.10 for information regarding certain Australian tax consequences of investing in Shares.

All dividends will be paid electronically. Payment will be credited on the dividend payment date and confirmed by a payment advice sent to the Shareholder.