Newcrest’s dividend policy continues to balance financial performance and capital commitments with a prudent leverage and gearing level for the Company. Newcrest looks to pay ordinary dividends that are sustainable over time having regard to its financial policy, profitability, balance sheet strength and reinvestment options in the business.
The Newcrest Board has determined to pay an unfranked final dividend of US 7.5 cents per share to be paid on Tuesday, 18th October 2016. The dividend will be paid from conduit foreign income and will be exempt from withholding tax. The key dates in relation to the final dividend are set out in the table below:
|Ex Dividend Date||Wednesday, 21 September 2016|
|Record Date and Currency Conversion Date||Thursday, 22 September 2016|
|Election Date - final date to elect to receive US dollars and to participate in the Dividend Reinvestment Plan (DRP)||Friday, 23 September 2016|
|VWAP* period beings for DRP||Monday, 26 September 2016|
|VWAP* period ends for DRP||Friday, 30 September 2016|
|Payment / Share Issue / Allotment Date||Tuesday, 18 September 2016|
Newcrest changed its reporting currency from Australian dollars to US dollars in 2015. As a result, dividends are now determined in US dollars.
Shareholders will receive their dividend in Australian dollars unless:
As dividends are determined in US dollars, for payments to be made in Australian dollars or Papua New Guinea kina, conversion into the relevant currency will be based on the foreign currency exchange rates applicable on the Record Date.
Newcrest's dividend history is indicated in the table below.
|Payment Date||Payment Amount
|2016 Final Dividend||US 7.5||0||TBC|
|2016 Interim Dividend||AU 0||0||0|
|2015 Final Dividend||AU 0||0||0|
|2015 Interim Dividend||AU 0||0||0|
|2014 Final Dividend||AU 0||0||0|
|2014 Interim Dividend||AU 0||0||0|
|2013 Final Dividend||AU 0||0||0|
* For non resident investors, the unfranked portion of the dividend has been paid from conduit foreign income and is therefore exempt from Australian withholding tax.
** Of the 19.55 cents per share unfranked portion, 17.25 cents is funded out of conduit foreign income.
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