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.
On 26 September 2019, Newcrest paid a final fully franked dividend of US 14.5 cents per share.
Newcrest will be moving to Mandatory Direct Credit of dividends for Shareholders with a registered address in either Australia or PNG from the time any dividend payment is next made in 2020.
From calendar year 2020, those Shareholders will be unable to receive their dividends by way of cheque and will need to provide bank account details to share registry, Link Market Services (Link).
Shareholders are encouraged to provide their bank account details, for payment of Newcrest dividends, as soon as possible. Those Shareholders who have already provided bank account details to Link, please check that the details are still current and correct.
Shareholders can provide/update their bank details via the internet at https://investorcentre.linkmarketservices.com.au
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 a nominated time and date; 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 a nominated time and date,
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 a nominated time and date, 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 relevant Record Date.
Newcrest's dividend history is indicated in the table below.
|2019 Final Dividend||US 14.5||100||36.48|
|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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