The table below provides a historical record of Metro Performance Glass’ dividend payments and imputation credits.

FY17 Interim Dividend

Record date: 9 January 2017

Payment date: 23 January 2017

NZ cents per Share NZ Residents on top marginal rate of 33% Non-resident shareholders
Dividend declared 3.600 3.600
NZ imputation credits 1.400  
NZ Supplementary dividend   0.635
Gross dividend for NZ tax purposes 5.000 4.235
NZ Tax @ 33% 1.650  
NZ non-resident withholding tax @15%   0.635
Net cash received 3.350 3.600

FY16 Final Dividend

Record date: 8 July 2016

Payment date: 25 July 2016

NZ cents per Share NZ Residents on top marginal rate of 33% Non-resident shareholders
Dividend declared 4.000 4.000
NZ imputation credits 1.556  
NZ Supplementary dividend   0.706
Gross dividend for NZ tax purposes 5.556 4.706
NZ Tax @ 33% 1.833  
NZ non-resident withholding tax @15%   0.706
Net cash received 3.722 4.000

FY16 Interim Dividend

Record date: 8 January 2016

Payment date: 22 January 2016

NZ cents per Share NZ Residents on top marginal rate of 33% Non-resident shareholders
Dividend declared 3.600 3.600
NZ imputation credits 1.400  
NZ Supplementary dividend   0.635
Gross dividend for NZ tax purposes 5.000 4.235
NZ Tax @ 33% 1.650  
NZ non-resident withholding tax @15%   0.635
Net cash received 3.350 3.600

FY15 Interim Dividend

Record date: 20 July 2015

Payment date: 4 August 2015

NZ cents per Share NZ Residents on top marginal rate of 33% Non-resident shareholders
Dividend declared 3.600 3.600
NZ imputation credits 1.400  
NZ Supplementary dividend   0.635
Gross dividend for NZ tax purposes 5.000 4.235
NZ Tax @ 33% 1.650  
NZ non-resident withholding tax @15%   0.635
Net cash received 3.350 3.600

Dividend policy

Dividend Policy Dividends and other distribution with respect to the shares are only made at the discretion of the Board of Metro Performance Glass. Any dividend can only be declared by the Board if the requirements of the Companies Act 1993 are also satisfied. The Board’s decision to declare a dividend for shareholders in any financial year will depend on, amongst other things:

  • any Statutory or regulatory requirements;
  • the financial performance of Metro Performance glass;
  • one-off or non-recurring events;
  • capital expenditure requirements;
  • the availability of imputation credits;
  • prevailing business and economic conditions;
  • the outlook for all of the above
    and any other factors deemed relevant by the Board.

Subject to the above, Metro Performance Glass intends to make dividend payments to Shareholders semi-annually, in respect of half years ending 30 September and full years ending 31 March.

The dividend is currently expected to be approximately 55% to 75% of NPATA. However, the actual ratio of the dividend paid to NPATA is expected to vary over time reflecting the above factors.

Metro Performance Glass intends to weight dividends to the second half, with the first half targeting 40% to 50% of the total expected dividend for the year. However, the split will vary according to actual and forecast NPATA and the factors described above.

It is the Board’s intention to attach imputation credits to dividends to the extent they are available.