Download EVOLVE EDUCATION GROUP LIMITED – DIVIDEND POLICY This

EVOLVEEDUCATIONGROUPLIMITED–DIVIDENDPOLICY
Thispolicy(Policy)wasapprovedbytheBoardofDirectors(Board)ofEvolveEducationGroup
Limited(Company)on13November2014.
DividendPolicy
DividendsandotherdistributionswithrespecttotheSharesaremadeatthediscretionoftheBoard
anddependonanumberoffactors,including:
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currentprofitability;
currentandmedium-termcapitalexpenditurerequirements;
workingcapitalrequirements;
currentcapitalstructure,havingregardtotheriskspresentedbyshortandmediumterm
economicandmarketconditionsandestimatedfinancialperformance;and
availableimputationcredits.
ThepaymentofdividendsisnotguaranteedandEvolveEducation’sdividendpolicymaychange.No
guaranteecanbegivenaboutfuturedividendsorthelevelofimputationofsuchdividends(ifany)as
thesematterswilldependuponfutureeventsincludingtheprofitability,growthopportunities,and
financialandtaxationpositionofEvolveEducation,theBoard’sdiscretion,andtheimpactonEvolve
Education’sbusinessoftheriskfactors.
Subjecttotheabove,EvolveEducationintendstomakedividendpaymentstoShareholderstwice
eachyearinrespectofthehalfyearsending30Septemberandfullyearsending31March.The
currentintentionoftheBoardistopaydividendsbetween40%and60%ofNPATinrespectofthe
precedinghalfyearperiod.However,theactualpercentageofdividendspaidtoNPATisexpectedto
varyovertimereflectingtheabovefactors.Thefirstdividendisexpectedtobemadeforthehalf
yearperiodending30September2015(whichwould,ifdeclared,bepaidinDecember2015).Itis
theBoard’sintentiontoattachimputationcreditstodividendstotheextenttheyareavailable.
HowevertheextentofavailableimputationcreditswillbeafactortheBoardwillconsiderin
determiningwhethertopayadividend.