Dividends

The Board has adopted the following capital management and dividend policy:

• NZME intends to pay dividends of 50-80% of Free Cash Flow subject to being within its target leverage ratio and having regard to NZME's capital requirements, operating performance and financial position.
• NZME’s Target Leverage Ratio is 0.5 to 1.0 times rolling 12 month EBITDA¹ (pre NZ IFRS 16).
  

Financial year	Period	Amount	Supplementary Dividend	Imputation Credits	Ex-Dividend	Date Paid
2022	Final	6.000c	1059c	2.333c	9 Mar 2023	22 Mar 2023
2022	Interim	3.000c	0.529c	1.167c	14 Sept 2022	27 Sep 2022
2022	Special	5.000c	0.882c	1.944c	27 Jun 2022	12 Jul 2022
2021	Final	5.000c	0.882c	1.944c	10 Mar 2022	23 Mar 2022
2021	Interim	3.000c	0.529c	1.167c	9 Sep 2021	22 Sep 2021
2018	Interim	2.000c	0.353c	0.778c	15 Oct 2018	26 Oct 2018
2017	Final	6.000c	1.059c	2.333c	17 Apr 2018	03 May 2018
2017	Interim	3.500c	0.618c	1.361c	16 Oct 2017	27 Oct 2017
2016	Final	6.000c	1.059c	2.333c	10 Apr 2017	28 Apr 2017
2016	Interim	3.500c	0.000c	0.000c	13 Oct 2016	28 Oct 2016

 

 ¹Operating results used in these calculations exclude the impact of NZ IFRS 16 and exclude exceptional items. Please refer to pages 35-36 of the 2020 Full Year Results Presentation for a detailed reconciliation.

The payment of dividends is not guaranteed and NZME’s dividend policy may change. Payment of dividends is at the discretion of the Board.