As noted to the market on 20 February 2012, the NZX Board indicated that it would announce the Q1, 2012 dividend at the NZX Annual Meeting today.
The NZX Board today announces a Q1 2012 dividend of 3.25 cents per share.
The record date is 14 May 2012 and the payment date will be 21 May 2012.
Commenting on this dividend, NZX Chair Andrew Harmos said, “NZX is generating high quality cash flow from its established businesses, has no debt, and has a good number of low capital intensity growth areas that are meeting all their milestones.
“The NZX Board believes in the growth profile of the business, and NZX's ability to fund those growth options.
“The Q1 dividend of 3.25 cents per share indicates the NZX Board's confidence in the NZX franchise for the medium term.”
The NZX Board will consider each subsequent quarterly dividend against free cash flow expectations and, if appropriate, may resolve to increase one or more successive quarterly payments.
“This dividend structure demonstrates that the NZX Board and management are committed to returning surplus capital, and surplus cash generated from operations, to shareholders in the most efficient manner available,” said Harmos.