Dividends

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

  • NZME intends to pay dividends of 30-50% 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

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.