Dividend Reinvestment Plan
The Company has put in place a dividend reinvestment plan (DRP) which will be operative from the payment of the March 2022 quarterly dividend.
The DRP has been designed so that participants will always receive the lowest reinvestment price possible, without their reinvestment diluting the post-tax NTA of those shareholders who choose not to participate in the DRP.
When the Company’s share price is greater than or equal to its post-tax NTA per share, dividends are paid as newly issued shares in the Company. If the Company’s share price is above its post-tax NTA per share on the dividend ex-date, participating shareholders will be issued new shares at the greater of the share price (less such discount as the Board may determine for the relevant dividend) or the post-tax NTA value per share of the Company on dividend ex-date.
If the Company’s share price is less than its post-tax NTA per share on the ex-date, cash available for distribution as dividends on shares subject to the DRP will be used to acquire the Company’s shares on-market in accordance with the terms set out in the DRP. These acquired shares will be distributed to shareholders participating in the DRP.
Shareholders who would like to participate in the DRP can enrol at: https://investor.automic.com.au or alternatively please contact the Company’s share registry, Automic, for assistance on 1300 902 587 (in Australia) / +61 2 7208 4521 (International).