Notice of Dividend Payment - October 2016
Heathcote & District Financial Services Limited is pleased to announce that shareholders will be paid a fully franked dividend of 7.5 cents per share, which is consistent with the previous 2 years.
- The ex-dividend date is 4 November 2016
- It will be paid to all eligible shareholders as at the record date of 11 November 2016; and,
- It will be paid on 18 November 2016
Shareholders would be aware that, in accordance with the principles of Community Banking, if it is profitable and solvent the company is able to pay dividends to shareholders up to a limit of the greater of:
- 20% of the profit otherwise available for distribution to shareholders in that 12 month period; and
- The weighted average interest rate on 90 day bank bills over that 12 month period plus 5% multiplied by the average level of share capital over that 12 month period.
The balance of profits is either invested in the community or in growing the business.
As the following table shows, this announcement continues the record of strong dividends paid to the shareholders who invested in their Community Bank.
|Payment Date||Dividend (per share)||Franking Level|