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Newcrest

ASX: AU$ / %,


Dividends

Dividend Policy

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.

2018 Final Dividend

The Newcrest Board has determined that, having regard to the Company’s financial performance in the 2018 financial year and target financial policy metrics at year end, a final fully franked dividend of US 11.0 cents per share will be paid on 5 October 2018.  The record date for entitlement is 29 August 2018. The financial impact of the dividend amounting to $84 million has not been recognised in the Consolidated Financial Statements for the year. The Dividend Reinvestment Plan remains in place. Key dates are below:

ACTION DATE
Announcement/Declaration Wednesday, 22 August  2018
Ex-Dividend Date Tuesday, 28 August  2018
Record Date and Currency Conversion Date Wednesday, 29 August 2018
Election Date - final date to elect to receive US dollars or PNG kina and/or to participate in the Dividend Reinvestment Plan (DRP) Thursday, 30 August 2018
VWAP* period begins for DRP Friday, 31 August 2018
VWAP* period ends for DRP Thursday, 6 September 2018
Payment/Issue Date Friday, 5 October 2018

* The subscription amount for shares allotted under the DRP will be an amount that is the arithmetic average of the daily volume weighted average sales price for Newcrest shares sold on the ASX during the VWAP period (31 August - 6 September 2018) rounded down to the nearest full cent.

Payment Currencies

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 Thursday, 30 August 2018; 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 Thursday, 30 August 2018,
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 Thursday, 30 August 2018, 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.

Dividend History Table

Newcrest's dividend history is indicated in the table below.


Payment Amount
¢
Franking Status
%
DRP Price
AU$
2018 Final Dividend US 11 100% available 7 September
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
16/4/13* AU 12 0 20.83
19/10/12** AU 23 15 28.25
17/04/12* AU 12 0 29.58
16/12/11* AU 20 0 34.77
21/10/11* AU 20 0 34.79
15/4/2011* AU 10 0 37.17
22/10/2010* AU 20 0 39.76
16/4/2010* AU 5 0 33.31
16/10/2009* AU 15 0 34.07
17/10/2008* AU 10 0 25.76
27/09/2007* AU 5 0 24.41
13/10/2006* AU 5 0 20.55
14/10/2005* AU 5 49 19.81
15/10/2004 AU 5 100 14.60
18/10/2003 AU 5 100 11.01
10/10/2002 AU 5 100 6.94
19/10/2001 AU 5 100 3.83
20/10/2000 AU 5 100 3.89
11/10/1996 AU 12.5 0 4.15
16/10/1995 AU 18.75 0 5.36
8/04/1994 AU 12.5 0 -
8/04/1993 AU 12.5 0 -
10/04/1992 AU 2.5 0 -
12/04/1991 AU 2.5 0 -
14/04/1989 AU 2.5 0 -
15/02/1998 AU 5 0 -
2/02/1987 AU 4 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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