Dividends

Dividend policy

The Company has set a policy to apply for the 2017 financial year onwards of paying a dividend of 70% to 80% of the earnings before interest, depreciation, amortisation, impairment losses and tax (EBITDA). Dividends will be unfranked, however may have conduit foreign income credits attached.

The payment of dividends will be subject to corporate, legal and regulatory considerations.

The above policy allows the Navigator Group to retain a portion of cash generated from operating activities, and to therefore have funds available to make additional investments into the Lighthouse Funds where such investments further the overall operating interests of the Group, or to act on external investment and/or acquisition opportunities as and when they may arise.

Dividend currency

The Company’s functional and presentation currency since the 2011 financial year is US Dollars (USD). Dividends are determined in USD, and paid in AUD based on the foreign exchange rate on the dividend Record Date.

Dividend history

Year Type Dividends Dividend conversion rate Payment date Franking level Conduit Foreign Income level
USD AUD
FY17 Final 8.00 10.0781 0.7938 1 September 2017 0% 100%
  Interim 6.00 7.8054 0.7687 10 March 2017 0% 100%
FY16 Final 7.00 9.1700 0.7631 9 September 2016 0% 100%
  Interim 5.00 6.8000 0.7308 16 March 2016 0% 80%
FY15  Final 5.50 7.8600 0.7000 16 September 2015 0% 100%
  Interim 5.00 6.4000 0.7812 18 March 2015 0% 100%
FY14 Final 5.00 5.3800 0.9290 17 September 2014 0% 100%
  Interim 3.00 3.3600 0.8930 27 March 2014 100% 0%
FY13 Final 3.00 3.3490 0.8959 6 September 2013 100% 0%
  Interim 3.00 2.9630 1.0124 28 March 2013 100% 0%
FY12 Final 3.00 2.9000 1.0373 19 September 2012 100% 0%
  Interim 2.00 1.9000 1.0793 30 March 2012 100% 0%
FY11 Final 5.00 4.7000 1.0664 25 November 2011 100% 0%
FY08 Final n/a 3.5000 n/a 26 September 2008 100% 0%
  Interim n/a 2.1000 n/a 26 March 2008 100% 0%
FY07 Final n/a 4.0000 n/a 25 September 2007 100% 0%
  Interim n/a 2.6000 n/a 31 March 2007 100% 0%
  Special n/a 1.5000 n/a 31 October 2006 100% 0%