Dividend Yield.....


Fletcher Building Dividend History.

 

IMPORTANT:

Please note that the bar chart below utilizes only the declared dividend and any Special dividend.  It DOES NOT include

imputation credits (for NZ residents) and /or supplementary dividends (which are for non residents).  Information on

Imputation credits and Supplementary dividends may be either found further down this page or on the NZX website.

Dividend Policy

Fletcher Building seeks to maintain dividends through economic cycles and to progressively grow the dividend over the medium term. The target dividend pay-out ratio, in the range of 50% to 75% of net earnings, is intended to provide sufficient flexibility for dividends to be maintained despite variations in economic conditions. Maintenance of a dividend in this range will be subject to there being no material adverse change in circumstances or outlook. In determining a dividend for any year, a number of factors are taken into consideration, including current and forecast earnings and operating cash flows, capital requirements and the company`s debt equity position.

Beyond dividends, Fletcher Building will consider other means of distribution, should cash flows and future investment requirements allow.

Fletcher Building`s policy on franking and imputation is to fully impute both the interim and final dividend with New Zealand tax credits each year (or to the maximum extent possible) and fully frank the final dividend with Australian tax credits where possible.

Notwithstanding the dividend policies above, and subject to the limitation on dividends in respect of Fletcher Building shares, the board of directors of Fletcher Building has an absolute discretion to change its intentions, to increase or reduce dividends, or to not authorise any dividends at all on Fletcher Building shares.

Fletcher Building can give no assurance about the level of dividends, if any, or the level of tax credits attached to dividends.

Dividend Reinvestment

This offers shareholders the opportunity to directly increase their investment in the company by applying dividends received on some or all of their existing shares in the acquisition of additional shares.

The downloadable DRP offer below explains how the plan works, and includes the participation notice should you wish to participate.

2017 Final Dividend Summary

2017 Final Dividend Summary Table 1

 NZ cents per share

NZ Residents on Top Marginal Tax rate of 33%

Australian Residents on Top Marginal Tax rate of 47%

Australian Residents on

15% Tax Rate

Other Non- Residents 8

Dividend declared

19.0000

19.0000

19.0000

19.0000

NZ imputation credits 2

7.3889

 

 

 

NZ supplementary dividend 3

 

3.3529

3.3529

3.3529

Australian franking credits 4

 

0.0000

0.0000

 

Gross dividend for NZ tax purposes

26.3889

22.3529

22.3529

22.3529

NZ tax(33%)5

(8.7083)

 

 

 

NZ non-resident withholding tax (15%)6

 

(3.3529)

(3.3529)

(3.3529)

Net cash received after NZ tax

17.6806

19.0000

19.0000

19.0000

Australian tax (49% and 15%)7

 

(10.5059)

(3.3529)

 

Reduced by offset for NZ non-resident withholding tax

 

3.3529

3.3529

 

Less Australian franking credit offset

 

0.0000

0.0000

 

Net cash dividend to shareholders after tax

17.6806

11.8470

19.0000

19.0000

 

Notes:

  1. This summary is of a general nature and the tax rates used and the calculations are intended for guidance only. As individual circumstances will vary, shareholders
    are advised to seek independent advice.

  2. The dividend has imputation credits attached at a 28% tax rate.

  3. A supplementary dividend is only payable to non-New Zealand shareholders and has the effect of removing the cost of New Zealand non-resident withholding tax
    (NRWT). Non-resident shareholders with a 10% or greater direct shareholding are not eligible to receive supplementary dividends but are exempt from NRWT.

  4. There are no Australian franking credits attached to this dividend.

  5. For all NZ resident shareholders who do not hold an exemption certificate, resident withholding tax (RWT) is required to be deducted at 5% from the gross
    dividend which has been credited with imputation credits at 28 percent. Accordingly, for those shareholders, a deduction of 1.3194 cents per share will be made
    on the date of payment from the dividend declared of 19.0 cents per share and forwarded to Inland Revenue. Resident shareholders who have a tax rate less than
    33% will need to file a tax return to obtain a credit for the RWT deduction in excess of their marginal tax rate.

  6. NZ non-resident withholding tax at the rate of 15% on the gross dividend for NZ tax purposes.

  7. This summary uses two examples of the effect of tax in Australia. The first uses the top marginal tax rate of 47%, including the Medicare levy (the Temporary
    Budget Repair Levy ceased on 30 June 2017). The second example uses the 15% income tax rate applicable in Australia to complying superannuation funds,
    approved deposit funds and pooled superannuation trusts. Different tax rates will apply to other Australian shareholders, including individuals, depending on their
    circumstances.

    The Australian tax is calculated as: 

     47% Rate

    15% Rate

    Gross dividend for NZ tax purposes

    22.3529

    22.3529

    plus franking credits

    0.0000

    0.0000

    Gross dividend for Australian tax purposes

    22.3529

    22.3529

    Australian tax

    10.5059

    3.3529

  8. This illustration does not purport to show the taxation consequences of the dividend for non-residents of New Zealand or Australia. Shareholders resident in other countries are encouraged to consult their own taxation advisor.

FY2016   |   24 March 2016

2016 Interim Dividend Summary

2016 Interim Dividend Summary Table1

NZ cents per share
NZ Residents on Top of Marginal Tax Rate of 33%
Australian Residents on Top of Marginal Tax rate of 49%
Australian Residents on 15% Tax Rate
Other Non Residents8

Dividend declared

19.0000

19.0000

19.0000

19.0000

NZ imputation credits2

0.0000

 

 

 

NZ supplementary dividend3

 

0.0000

0.0000

0.0000

Australian franking credits4

 

0.0000

0.0000

 

Gross dividend for NZ tax purposes

19.0000

19.0000

19.0000

19.0000

NZ tax (33%)5

(6.2700)

 

 

 

NZ non-resident withholding tax (15%)6

 

(2.8500)

(2.8500)

(2.8500)

Net cash received after NZ tax

12.7300

16.1500

16.1500

16.1500

Australian tax (49% and 15%)7

 

(9.3100)

(2.8500)

 

Reduced by offset for NZ non-resident withholding tax

 

2.8500

2.8500

 

Less Australian franking credit offset

 

0.0000

0.0000

 

Net cash dividend to shareholders after tax

12.7300

9.6900

16.1500

16.1500

 

Record date: 24 March 2016

Payment date: 13 April 2016

Dividend Reinvestment Plan price: NZ$7.7658/A$7.0058

 

Notes

  1. This summary is of a general nature and the tax rates used and the calculations are intended for guidance only. As individual circumstances will vary, shareholders are advised to seek independent advice.
  2. No imputation credits are attached to this dividend.

  3. A supplementary dividend is only payable to non-New Zealand shareholders if the dividend is fully or partly imputed.  It has the effect of removing the cost of New Zealand non-resident withholding tax (NRWT) on that part of the dividend which has imputation credits attached. As noted above, no imputation credits are attached to this dividend.  Accordingly, no supplementary dividend is payable.

  4. There are no Australian franking credits attached to this dividend and the conduit foreign income component is nil.

  5. For all NZ resident shareholders who do not hold an exemption certificate, resident withholding tax (RWT) is required to be deducted at 33%. Accordingly, for those shareholders, a deduction of 6.27 cents per share will be made on the date of payment from the dividend declared of 19.0 cents per share and forwarded to Inland Revenue. Resident shareholders who have a tax rate less than 33% will need to file a tax return to obtain a credit for the RWT deduction in excess of their marginal tax rate.

  6. NZ non-resident withholding tax at the rate of 15% on the gross dividend for NZ tax purposes.

  7. This summary uses two examples of the effect of tax in Australia. The first uses the top marginal tax rate of 49%, including the Medicare levy and the Temporary Budget Repair Levy. The second example uses the 15% income tax rate applicable in Australia to complying superannuation funds, approved deposit funds and pooled superannuation trusts. Different tax rates will apply to other Australian shareholders, including individuals, depending on their circumstances.

The Australian tax is calculated as:

49% Rate

15% Rate

 

Gross dividend for NZ tax purposes

19.0000

19.0000

 

plus franking credits

0.0000

0.0000

 

Gross dividend for Australian tax purposes

19.0000

19.0000

 

Australian tax

9.3100

2.8500

 

  1. This illustration does not purport to show the taxation consequences of the dividend for non-residents of New Zealand or Australia. Shareholders resident in other countries are encouraged to consult their own taxation advisor.


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