Investore’s dividend policy is to pay out between 80% and 100% of distributable profit as dividends. Distributable profit is a non-GAAP measure and consists of profit/(loss) before income tax, adjusted for determined non-recurring and/or non-cash items (including non-recurring adjustments for incentives payable to anchor tenants for lease extensions) and current tax. Further information including the calculation of distributable profit and the adjustments to profit before income tax, is set out in note 3.2 to Investore’s Financial Statements.
The payment of dividends is not guaranteed by Investore and Investore’s dividend policy may change from time to time.
Dividend Reinvestment Plan
Investore operates a dividend reinvestment plan which provides eligible shareholders with an opportunity to invest the net proceeds of the cash dividends payable on their shares in additional fully paid ordinary shares in Investore. The plan lets eligible shareholders conveniently increase their shareholding in Investore without incurring brokerage fees.
Participation in the plan is entirely optional for eligible shareholders. Shareholders may elect to participate in the plan in respect of all or part of their shares. If shareholders elect to participate only in respect of part of their shares, they will continue to receive cash dividends in respect of the remainder of their shares.
The plan is only available to eligible shareholders, being shareholders with a registered address in New Zealand or Australia (as at the record date for a particular dividend).
Shareholders who wish to continue to receive their dividends in cash do not need to do anything.
Further details on the plan can be found in the Dividend Reinvestment Plan Offer Document.
Shareholders who wish to apply or change their participation, or withdraw from the plan can do so online by visiting the website of Investore’s share registrar, Computershare Investor Services: www.investorcentre.com/nz. Once logged in, select “My Profile”, then “Reinvestment Plans” from the lefthand menu. Select Investore Property Limited in the holding line and “Apply” to select the participation level.