Stanmore Coal has announced that, subject to approval by the shareholders at the 2018 AGM, it will commence a Dividend Reinvestment Plan (DRP).
The announcement follows the company’s resolution to declare an unfranked dividend of AUS$0.02 per share for the financial year ending 30 June 2018.
The DRP is intended to provide a convenient way for shareholders to invest their dividends in new fully paid shares in Stanmore Coal, without paying brokerage and other associated costs.
At each dividend payment date, dividends on shares nominated by shareholders to be subject of the DRP are automatically invested in Stanmore Coal ordinary shares.