Dividend information
Macquarie Group Limited targets an annual ordinary dividend payout ratio in the range of 60 per cent to 80 per cent of net earnings. Franking is subject to the composition of income.
The DRP provides shareholders with the opportunity to apply dividends from their ordinary shares towards the acquisition of new fully paid ordinary shares rather than receiving dividends in cash.
On 30 April 2010 the Board announced that it had removed the 2.5 per cent discount for the DRP, effective for the payment of the financial dividend on 2 July 2010.
Shareholders who are residents of Australia and NZ are eligible to participate in the DRP.
| Allocation price | Shares allocated under the DRP are currently determined by the Market Value (as defined in the DRP Rules) of a fully paid ordinary Macquarie Group share. The Market Value is the amount which is the arithmetic average of the daily volume weighted average price of all shares sold on the ASX over five business days, commencing by the fourth business day after the record date for the relevant dividend. |
| Benefit | Shareholders who participate may apply their dividends towards acquiring fully paid ordinary Macquarie Group shares (ASX: MQG) that do not incur brokerage. |
| Eligibility | Currently, only Australian and New Zealand resident shareholders are eligible to participate. |
| Number of allocated shares | Participants in the DRP will be allocated the nearest whole number of ordinary shares (rounding down). If there is a cash dividend on DRP shares left over after shares have been allocated under the DRP, this amount will be carried forward until the next dividend is paid and will be added to that dividend when the number of shares allocated under the DRP for that period is determined. These carried forward amounts will bear no interest nor carry a dividend entitlement |
| Participation |
Eligible shareholders may apply to participate in the DRP with respect to all or part of their holding. Shareholders who wish to partially participate in the DRP may nominate a specific number of shares to which they wish the DRP to apply. To participate in the DRP, you need to complete the Notice of Dividend Election you receive in the mail once you become a shareholder, and return it to the share registry. A separate notice must be lodged for each shareholding account. Participation in the DRP will commence with the dividend payment relating to the first record date which is after the date your Notice is received by the share registry. |
| Termination or suspension |
You may vary or withdraw from the DRP by completing the Notice of Variation available from the share registry. On termination or suspension of the DRP, any carried forward residual amounts will be paid to the participant. Payments are batched and processed quarterly. |
| Payment dates |
Early July and mid December each year. The scheduled dates for upcoming dividends are included in the Calendar. |
| Payment history | Access dividend payment history here. |
| Payment options |
Australian registered shareholders may elect to have dividends directly deposited into a nominated account or to participate in the Dividend Reinvestment Plan (DRP). Shareholders with a registered address outside Australia may elect to receive their dividends by cheque (in Australian dollars only) or to have dividends directly deposited into a nominated Australian dollar bank account. Shareholders who do not provide their bank account details or elect to participate in the DRP will be sent a dividend advice statement on the dividend payment date advising the dividend payment amount and noting that the amount will be held as direct credit instructions had not been advised. Dividends will not accrue interest while they are being held. Following advice of direct credit instructions, payment will be credited into the nominated account. Shareholders should note that payments are made on a periodic basis and not on immediate receipt of a completed Direct Credit Payment Form. |
| Updating payment details |
Dividend payment options, including elections regarding DRP participation may be updated via the Computershare website. Any change to payment details must be received by Computershare by the record date of a dividend. |
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