PanAust aims to create value from its assets and deliver enhanced returns to its shareholders versus its industry peers, in part through the payment of dividends. The Board of Directors can declare dividends at its discretion. The capacity to pay dividends is balanced with the need for PanAust to fund its pipeline of future growth projects and is subject to long-term profitability.
2014 Interim Dividend
On 21 August 2014, the Company announced the declaration of an interim dividend for the June half year of 3 cents (Australian) per share (unfranked). The interim dividend is to be paid on 3 October 2014 to shareholders on the register as at 7:00pm (AEST) on 4 September 2014 (the Record Date). The full amount of the interim dividend will be paid from conduit foreign income and will be exempt from Australian withholding tax. Dividends to shareholders who reside in Australia, New Zealand, United States of America (USA) and United Kingdom (UK) will be paid by direct credit into their nominated bank account. The benefits of having the dividend paid by direct credit to a shareholder’s nominated bank account include:
- there is no delay in waiting for a cheque in the mail – the funds will be deposited on the date of payment and will be available for immediate use;
- direct credit is a more secure method of receiving dividend payments; and
- a shareholder can elect to have their dividends paid either directly to their own bank account or any nominated bank account in Australia, New Zealand, USA or the UK.
Shareholders will receive a dividend statement in the form nominated by them (electronic or paper) for their tax records. Shareholders who have not previously provided their direct credit details to the Company’s Share Registry will not receive their dividend payment until they have provided these details to the Company’s Share Registry either online by logging into www.computershare.com.au/easyupdate/pna or by calling the PanAust shareholder information line on 1300 850 505.
Dividend Reinvestment Plan
The Dividend Reinvestment Plan (DRP), which was approved by shareholders at the Annual General Meeting on 18 May 2012, will apply in relation to the interim dividend. The DRP provides eligible shareholders with the option of reinvesting all or part of their dividends in additional PanAust shares without paying any brokerage or other entry costs. Participation in the DRP is voluntary. Eligible shareholders will be able to elect to take up shares in the Company at a price determined by the arithmetic average of the daily volume weighted average price of shares traded on the Australian Securities Exchange over each of the five trading days commencing on 8 September 2014. No discount will apply to shares issued under the DRP with respect to the interim dividend. Shares issued under the DRP will rank equally with existing ordinary fully paid PanAust shares. Eligible shareholders who have not previously elected to participate in the DRP have until 7:00pm (AEST) on 5 September 2014 to elect to participate in the DRP by contacting the Company’s Share Registry. A copy of the DRP Rules can be obtained by clicking the below link. Details on the operation of the DRP are summarised in the Frequently Asked Questions that can be obtained by clicking the below link. DRP Rules DRP FAQ Share Registry Information
Dividend History Table
||Payment Amount Cents
||Franking Status* (%)
||DRP Price** ($)
|25 October 2012
|5 April 2013
* For non-resident investors, the unfranked portion of each dividend has been paid from conduit foreign income and is therefore exempt from Australian withholding tax. ** The DRP price is calculated as the arithmetic average of the daily volume weighted average price of shares traded on the Australian Securities Exchange over each of the five trading days commencing on the second trading day after the relevant record date.