Dividends and DRP

Dividends and DRP

Retrospective Changes to Tax Legislation for QV Equities Limited (‘Company’)

The amount of franking credits for dividends you received during the 2017-18 financial year has changed.

  • New legislation retrospectively changes the Company’s eligibility for the lower company tax rate of 27.5%.
  • Franking credits attached to dividends paid during the 2017-18 financial year will be based on a tax rate of 30% instead of 27.5%. This slightly increases the franking credits for dividends paid during the 2017-18 financial year.
  • The revised franking amount may impact your 2017-18 income tax return.

The Company will issue a notice to each shareholder reflecting the correct amount of franking credit by the end of September.

For more information, read the Shareholder Update dated 10th September 2018.

Financial Year 2017-18

The Company announced a final, fully franked dividend of 2.1 cents per share and a fully franked special dividend of 1.0 cent per share, both to be paid on 31 October 2018.

The Company offers a Dividend Reinvestment Plan (DRP) for shareholders. Shareholders participating in the DRP will benefit from a 3% discount. To participate in the DRP for the final and special dividend payments, shareholders must provide their election to the Company before 5pm on 3 October 2018. Further details regarding dividend payments will be sent to shareholders in the coming weeks.

The table below summarises the key dates related to the final and special dividend for the year ended 30 June 2018.

Ex-Dividend date1 October 2018
Record Date 2 October 2018
Last Election date for DRP3 October 2018
Payment Date  31 October 2018

Dividends

PeriodQVEPAIDPDF
Dividend Update – 10 Sept 18180910_Update_Dividend
Special Dividend+1.0 cents31 October 2018180815_QVE_30_June_2018_Results_announcement
Final 18+2.1 cents31 October 2018180815_QVE_30_June_2018_Results_announcement
Interim+2.1 cents4 April 2018180214_QVE_Half_Year_Results_ Interim_Dividend_Announcement
Final 17+2.0cents31 October 2017170816_30June2017_Results_announcement
Interim+2.0cents3 April 20171702015_HY17results_interim_dividend_announcement
Final 16+1.8cents17 October 2016160817_Letter_to_Shareholders_30_June_2016_Results
Interim 16+1.5cents4 April 201602 2016 Interim dividend press release
Final 15+1.5cents6 November 201510 2015 QVE Final Dividend note
Interim 15+0.5cents2 April 2015QV Equities Ltd – QVE_Dividend_Chairmans_letter

The Company currently intends to pay a dividend to Shareholders twice a year. The amount of the dividend will be at the discretion of the Board and will depend on a number of factors, including future earnings, capital requirements, financial conditions, future prospects and other factors that the Board deem relevant. It is the current Board policy that all dividends paid to Shareholders will be franked to 100% or to the maximum extent possible.

Dividends will be paid out of the Company’s profit from its investment operations.

Franking credits on dividends received by QV Equities will be passed on to QV Equities shareholders through dividends that are fully or substantially franked, depending on tax credits available to the Company. The franked portion of QV Equities’ dividends provide tax benefits for Australian shareholders. Franked dividends also benefit overseas shareholders, since withholding tax is not deducted from such dividends.

Where possible, the LIC taxation benefits from profits earned from realised investment gains will be passed on to investors as dividends.


Dividend Reinvestment Plan

QVE offers a Dividend Reinvestment Plan (DRP) for shareholders.

To participate in QVE’s DRP for the final dividend payment, shareholders had to provide their election to the Company before 5pm on 3rd October 2018.

 

FormPDF
DRP formDRP Form
DRP terms and conditionsqve-drp-terms-and-conditions-2017
DRP FAQsDRP-FAQs-2017