Download Dividend Policy - Scion Research

Dividend Policy
In determining the amount of ongoing dividend (if any) recommended to be distributed to the
Shareholders, consideration will be given to:
•
providing for capital investment requirements and consideration as to whether there is a
need for capital injection from Shareholders;
•
Scion’s working capital requirements;
•
the ongoing financial viability of Scion, including the ability to repay debt;
•
the need to comply with Bank Covenants;
•
the obligations of the directors under the Companies Act 1993 and other statutory
requirements;
•
resilience against fluctuations in the demand for Scion’s services;
•
the need to ensure the maintenance of scientific capability through the provision of
scientific technology, equipment and science capability building, i.e., development of
Strategic Science Platforms; and
•
the Operating Framework for Crown Research Institutes as conveyed in the Outline of
Shareholder Expectations for Crown Research Institutes.
The Scion Board will detail in a submission to shareholding Ministers, within three months of
the end of each financial year:
•
the amount of dividend (if any) recommended to be distributed to the shareholders;
•
the percentage of tax-paid profits that the dividend represents; and
•
the rationale and analysis used to determine the amount of any dividend.