Dividends and DRP
December 2022 Quarter Dividend
The Board of QV Equities Limited has declared a fully franked quarterly dividend of 1.3 cents per share for the December quarter. Relevant dates for the interim dividend are listed below:
- Ex-Dividend Date: 14 February 2023
- Dividend Record Date: 15 February 2023
- Dividend Payment Date: 3 March 2023
Increased Dividend Outlook for FY2022-23
In October 2022, the Board also announced its intention to pay dividends totaling 5.2 cents per share for the financial year ending 30 June 2023. This is subject to the Company maintaining sufficient profit reserves and there being no material impacts, changes or unforeseen events.
This represents an increase of 8.3% or 0.4 cents per share on the dividends paid for the prior financial year. Dividends will continue to be paid on a quarterly basis in equal instalments.
The Company currently intends to pay a dividend to Shareholders quarterly. 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.
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 changed. The Company issued a notice to each shareholder reflecting the correct amount of franking credit.
For more information, read the Shareholder Update dated 10th September 2018.
Dividend Reinvestment Plan
On 14 February 2020, the Board decided to suspend the Dividend Reinvestment Plan (DRP) while the on-market buy-back facility for QVE shares is in place. Shareholders who had previously elected to participate in the DRP will automatically receive a cash payment for this dividend. However, if in future the Board decides to reinstate the DRP, shareholders current DRP elections will continue to apply.
|DRP terms and conditions|