Capital Return
At a General Meeting held on Tuesday 5 July 2011 nib shareholders approved a Capital Return of approximately $75 million (approximately $0.1607 per ordinary share) (“Capital Return”) (“General Meeting”).
The Capital Return will be paid to nib shareholders on 21 July 2011. nib shares will trade “ex” of the Capital Return from 7 July 2011, with the Record Date for determining entitlement to participate in Capital Return set at 7.00pm on 13 July 2011.
These funds will be sourced from nib’s existing cash reserves. The number of shares on issue in nib will not change as a result of the Capital Return.
The Capital Return will be paid by direct credit into your nominated bank account. To update your direct credit instructions please click here or phone 1300 664 316.
nib applied to the Australian Taxation Office (“ATO”) for a class ruling in relation to the tax treatment of the Capital Return for certain shareholders (“Class Ruling”). The ATO published the Class Ruling on 14 June 2011. The Class Ruling is consistent with the information contained in Part 7 of the nib notice of meeting which was lodged with the ASX on 30 May 2011. The Class Ruling is available on the ATO website and on nib’s website.
The tax consequences for a shareholder with respect to the Capital Return may vary depending upon a shareholder’s individual circumstances. Shareholders should consult their own tax adviser as to the potential tax consequences for them with respect to the Capital Return.
Capital Return Timetable
Dividends
On 22 August 2011 nib announced an final dividend of 9.0 cents per share (fully franked). The final dividend will be paid on 30 September 2011.
| Dividend |
Ex Dividend Date |
Record Date |
Date Payable |
% Franked |
Type |
Further Information |
| 9.0c |
30/08/2011 |
05/09/2011 |
30/09/2011 |
100% |
Final |
9.0C FRANKED @ 30% |
| 4.0c |
07/03/2011 |
11/03/2011 |
08/04/2011 |
100% |
Interim |
4.0C FRANKED @ 30% |
| 5.0c |
30/08/2010 |
03/09/2010 |
27/09/2010 |
100% |
Final |
5.0c FRANKED @ 30% |
| 2.0c |
05/03/2010 |
12/03/2010 |
08/04/2010 |
100% |
Interim |
2.0c FRANKED @ 30% |
| 4.4c |
14/09/2009 |
18/09/2009 |
09/10/2009 |
100% |
Final |
4.4C FRANKED @ 30% |
| 3.0c |
04/03/2009 |
11/03/2009 |
03/04/2009 |
100% |
Interim |
3C FRANKED @ 30% |
| 2.1c |
15/09/2008 |
19/09/2008 |
10/10/2008 |
100% |
Final |
2.1C FRANKED @ 30% |
nib has determined that it will not pay dividends by cheque. The payment of dividends via direct credit is not new. Several major Australian companies have implemented policies to pay dividends to shareholders only via direct credit to their bank accounts. Direct credit payment delivers a number of benefits including:
- immediate cleared funds – you will not have to wait for the funds to clear before accessing your money;
- improved security of dividend payments – removing the risk that dividend cheques may be lost in the mail or subject to fraud or theft;
- generates savings that benefit all shareholders.
To allow payments to be made by direct credit please click here to provide nib with your direct credit instructions.
Tax File Number
Under Australian taxation laws, if you are an Australian resident securityholder or subject to Australia’s taxation laws, and you do not provide nib with your TFN, ABN or Exemption code details, tax may be deducted from payments of unfranked dividends at the highest marginal rate plus the Medicare Levy. As such it is important that you provide nib with your details if you do not wish any tax to be withheld from future dividend payments.