Newcrest’s dividend policy seeks 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 metrics, profitability, balance sheet strength and reinvestment options in the business. Going forward, Newcrest is targeting a total dividend payout of at least 10-30% of free cash flow generated for that financial year, with the dividend being no less than US 15 cents per share on a full year basis.
The Newcrest Board has determined that, having regard to the Company’s financial performance in the 2019 Full Year, a final fully franked dividend of US 14.5 cents per share will be paid on 26 September 2019. The record date for entitlement is 21 August 2019. The Dividend Reinvestment Plan remains in place.
|Announcement/Declaration||Friday, 16 August 2019|
|Ex-Dividend Date||Thursday, 22 August 2019|
|Record Date and Currency Conversion Date||Friday, 23 August 2019|
|Election Date ||Monday, 26 August 2019|
|VWAP* period begins for DRP||Tuesday, 27 August 2019|
|VWAP* period ends for DRP||Monday, 2 September 2019|
|Payment/Issue Date||Thursday, 26 September 2019|
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:
(a) they have:
• nominated a PNG kina bank account domiciled in PNG by 17:00 AEST on Monday, 26 August 2019; or
• a registered address in PNG and have not nominated an Australian dollar bank account domiciled in Australia or a US dollar bank account domiciled in the United States of America by 17:00 AEST on Monday, 26 August 2019,
in which case they will receive their dividend in PNG kina; or
(b) they have nominated a US dollar bank account domiciled in the United States of America by 17:00 AEST on Monday, 26 August 2019, in which case they will receive their dividend in US dollars.
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.
|2019 Interim Dividend||US 7.5||100||24.74|
|2018 Final Dividend||US 11||100||19.16|
|2018 Interim Dividend||US 7.5||100||19.85|
|2017 Final Dividend||US 7.5||70||21.46|
|2017 Interim Dividend*||US 7.5||0||22.56|
|2016 Final Dividend*||US 7.5||0||22.49|
|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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