Newcrest’s dividend policy balances financial performance and capital commitments with a prudent gearing level for the company. Newcrest’s ordinary dividends are expected to be sustainable and grow moderately over time. Newcrest’s special dividends are linked to shorter term market conditions and financial performance, balanced against capital requirements.
The company has declared a final, 15% franked dividend of 23 cents per share for the year ended 30 June 2012. Of the 19.55 cents per share unfranked portion, 17.25 cents is funded out of conduit foreign income and is exempt from Australian withholding tax. The record date for determining entitlement for the dividend is 28 September 2012. The dividend will be paid to shareholders on 19 October 2012.
The Dividend Reinvestment Programme (DRP) remains in place and is offered to eligible shareholders at market price. At this time, it is not offered to shareholders with addresses in Canada, Japan or the United States of America.
Newcrest's dividend history is indicated in the table below.
* For non resident investors, the unfranked portion of the dividend has been paid from foreign sourced 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.
The DRP price represents the volume weighted average sale price for the fully paid ordinary shares in the capital of the Company in the five trading days immediately before the Record Date