Following the release of the company's FY2018 annual results, the Board of Australian coal miner Stanmore Coal (Stanmore) has resolved to declare an unfranked dividend of AUS$0.02 per share for the financial year ending 30 June 2018.
At 5pm on 31 October 2018, all shareholders will be entitled to receive the dividend payment which the company expects to pay on 23 November 2018. The exdividend date will be 30 October 2018. Subject to approval by the shareholders at the 2018 AGM, Stanmore Coal will also commence a Dividend Reinvestment Program (DRP).
According to Stanmore, the DRP provides 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. With a focus on generating strong cash flows and maintaining balance sheet strength, Stanmore Coal aims to deliver returns to shareholders through improving returns on invested capital. As well as share price appreciation, Stanmore Coal seeks to pay dividends over time commensurate with performance in earnings, cash flow, the cyclicality of our industry and any capital management decisions from time to time.
Read the article online at: https://www.worldcoal.com/coal/30082018/stanmore-coal-announces-maiden-dividend-of-aus002-per-share/