Our dividend policy
Our dividend policy is to pay 80% of Free Cash Flow (FCF) as ordinary dividends subject to the Board’s due consideration of the Company’s medium-term asset investment programme, 20% targeted average gearing level and future circumstances, including the profitability, growth opportunities, and the financial and taxation position of Refining NZ. Free Cash Flow is the Net Cash from Operating Activities less normalised stay-in-business capital.
Dividend payments are expected to be split into an interim dividend paid in September and a final dividend paid in March.
It is the intention of the Board to attach imputation credits to dividends to the extent that they are available.
Dividend payments
Summary and upcoming and historical dividends.