In accordance with thl's dividend policy, thl's directors have approved an FY24 final dividend of 5 cents per share. The interim dividend will be 100% imputed and 0% franked, and will be paid on 4 October 2024, with a record date of 20 September 2024.
The FY24 final dividend is eligible for the thl Dividend Reinvestment Plan at a discount of 2% for eligible, participating shareholders. The final date to make elections with respect to the Dividend Reinvestment Plan is 5:00pm (New Zealand time) on 23 September 2024.
The payment and amount of dividends is decided by the thl Board from time to time. It is the current intention of the Board that thl distributes dividends in accordance with a policy targeting a pay-out ratio of 40 to 60% of thl's underlying net profit after tax.
While the above reflects the current intention of the Board, the payment and amount of any future dividends will be at the discretion of the Board after considering various factors the Board deems relevant. This includes the capital requirements of the business over the medium term, the maintenance of key financial ratios consistent with an investment grade rating, and material extraordinary or non-recurring items not reflected in the underlying net profit after tax and which the Board considers should be reflected in shareholder distributions.
Full year dividends are intended to be weighted approximately 30% to the interim dividend and 70% to the final dividend. Imputation and franking credits are to be attached to dividends as available and dividend payments are made in New Zealand and Australian currency.
thl has a Dividend Reinvestment Plan (DRP) under which eligible shareholders in New Zealand, Australia and the Cayman Islands may elect to reinvest all or part of their cash dividends in additional thl ordinary shares free of brokerage charges. At the time of declaring of any dividend, thl will determine whether the DRP is available in respect of that dividend, and if so, whether any discount will be applicable when determining the price per share of ordinary shares issued under the DRP.
Shareholders wishing to commence participating in the DRP need to make a participation election by visiting www.investorcentre.linkgroup.nz (for NZX holders) or www.investorcentre.linkgroup.com (for ASX holders). Shareholders previously enrolled into the plan will remain enrolled unless they terminate their participation using the same link.
The DRP Offer Document below explains how the plan operates.
Dividend Reinvestment Plan Offer Document
