Evolution introduced its revenue-linked dividend policy in February 2013. There have now been thirteen consecutive dividends paid in each half-year since that date. In August 2017, the Board approved a change to the dividend policy of whenever possible paying a half-yearly dividend equivalent to 50% of the Group’s after tax earnings. The policy was updated in August 2019 and information is detailed below.
Final Dividend for the Full Year ended 30 June 2019
In August 2019, the Directors approved a change to the dividend policy of whenever possible paying a dividend based on free cash flow generated during a year. The Directors will assess the group cash flow and outlook for the business with the intention to return excess cash to shareholders and targeting a level around 50% of cash flow. The Group’s free cash flow is defined as cash flow before debt and dividends. The change was effective immediately and was applied to the final dividend for 2019.
The Board has confirmed that Evolution is in a sound position to meet its commitment under the new policy to pay a final fully franked dividend for the current period of 6 cents per share, totalling A$101.8 million. Evolution shares will trade excluding entitlement to the dividend on 26 August 2019, with the record date being 27 August 2019 and payment date of 27 September 2019.
Dividend Amount: 6.0 cents per share fully franked
Ex-dividend Date: 26 August 2019
Record Date: 27 August 2019
Dividend Payment Date: 27 September 2019
Conduit Foreign Income (CFI) Component: Nil
|Dividend||Payment date||Amount (cents)||Franking status (%)||DRP price (A$)|
|Interim||29 March 2019||3.5c||100||NA|
|Final||28 Sept 2018||4.0c||100||NA|
|Interim||29 March 2018||3.5c||100||NA|
|Final||29 Sept 2017||3c||100||NA|
|Interim||27 March 2017||2c||0||2.0197|
|Final||23 Sept 2016||2c||0||2.1037|
|Interim||29 March 2016||1c||0||1.6864|
|Final||2 Oct 2015||1c||0||1.0863|
|Interim||27 March 2015||1c||0||0.8162|
|Final||3 Oct 2014||1c||0||0.6689|
|Interim||26 March 2014||1c||0||0.9192|
|Maiden||26 Sept 2013||1c||0||NA1|
1 – Not applicable as the Dividend Reinvestment Plan was initiated in March 2014.
Dividend Reinvestment Plan
The Board of Directors have determined to continue the suspension of the Dividend Reinvestment Plan (“DRP”) until further notice.
Direct credit of dividend payments
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