NZX advises that the Board has today declared a fully imputed dividend of 1.25 cents per share in respect of Q1 2013. The record date is 17 May 2013 and the payment date will be 31 May 2013.
The quantum of the dividend has been set in accordance with NZX's current dividend policy of paying a fixed amount per share, increasing by a minimum annual amount equivalent to one cent per share on a pre-share split basis.
On the current post-split basis, a dividend of not less than 5.6 cents per share is payable in respect of the current year in accordance with this policy. Absent unforeseen events, NZX expects to at least meet this over its four quarterly dividend payments relating to the 2013 financial year.
The Board anticipates that from 2014 the Company will move to a more conventional pay out ratio policy, subject to the normal solvency, working capital and capital expenditure caveats.
