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Dividends are a part of a company's profit, passed to its shareholders.Caltex dividends are normally paid twice a year, with final dividends paid in April, and interim dividends in October.
Dividend Policy
The Caltex Board policy on issuing of dividends, as declared at the half year results meeting on 27 August 2004, is:
| · |
Taking into account capital commitments in respect of its Clean Fuels investments in 2004 and 2005, the Company intends to pay ordinary dividends of 20% to 30% of the Replacement Cost Profit After Tax in 2004 and 2005, excluding significant items |
| · |
After 2005, the Company intends to increase the pay-out ratio to a range of 40% to 60% of Replacement Cost Profit After Tax, also excluding significant items. It is then the Board's intention that surplus cashflow above the target pay-out ratio of 40% to 60% will be distributed via a special dividend and/or other capital management initiatives |
| · |
The Company is targeting a capital structure with gearing (Debt/Debt plus Equity) between 20-25% and total debt within a range of $400 million to $500 million. This will provide the Company with the financial flexibility and liquidity to maintain dividend payments through any cyclical down years |
| · |
However, the declaration and amount of dividends are at the sole discretion of the CAL Board and are dependent on CAL's earnings and cashflow requirements and financial conditions at that time |
Dividend History
| Year |
Type |
Record Date |
Rate (cps) |
Dollars |
| 2007 |
Final |
7 March 2008 |
33 |
$89,100,000 |
| 2007 |
Interim |
10 September 2007 |
47 |
$126,900,000 |
| 2006 |
Final |
9 March 2007 |
48 |
$129,600,000 |
| 2006 |
Interim |
8 September 2006 |
32 |
$86,400,000 |
| 2005 |
Final |
10 March 2006 |
31 |
$83,700,000 |
| 2005 |
Interim |
9 September 2005 |
15 |
$40,500,000 |
| 2004 |
Final |
11 March 2005 |
25 |
$67,500,000 |
| 2004 |
Interim |
10 September 2004 |
14 |
$37,800,000 |
| 2003 |
Final |
12 March 2004 |
14 |
$37,800,000 |
| 2003 |
Interim |
12 September 2003 |
4 |
$10,800,000 |
| 2002 |
Final |
|
Nil |
|
| 2002 |
Interim |
|
Nil |
|
| 2001 |
Final |
|
Nil |
|
| 2001 |
Interim |
|
Nil |
|
| 2000 |
Final |
14 March 2001 |
6 |
$16,200,000 |
| |
Interim |
8 September 2000 |
10 |
$27,000,000 |
| 1999 |
Final |
17 March 2000 |
14 |
$37,800,000 |
| |
Interim |
10 September 1999 |
8 |
$21,600,000 |
| 1998 |
Final |
12 March 1999 |
12 |
$32,400,000 |
| |
Interim |
11 September 1998 |
10 |
$27,000,000 |
| 1997 |
Final |
17 March 1998 |
14 |
$25,200,000 |
| |
Interim |
2 September 1997 |
4 |
$7,200,000 |
| 1996 |
Final |
18 March 1997 |
14 |
$25,200,000 |
| |
Interim |
4 September 1996 |
11 |
$19,800,000 |
|
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