Investor information
Annual shareholders’ meeting
The Annual Shareholders' Meeting of Fletcher Building Limited will be held at Eden Park, Mt Eden, Auckland, New Zealand, at 10.30am on Wednesday 17 November 2010.
Dividend Reinvestment Plan
Fletcher Building shareholders (excluding those in jurisdictions where the issue of shares is not permitted by law) can participate in a Dividend Reinvestment Plan, under which they have the opportunity to reinvest their dividends in additional shares. To participate, please contact the share registry.
Further information online
Details on Fletcher Building, its governance policies, and its operations for the year ended 30 June 2010 can be viewed at the Fletcher Building website, at fletcherbuilding.com. This website contains all news releases to the NZX and other financial presentations made by the company.
Shareholder communications
The company is not required to send printed copies of the annual report and half year review to security-holders. Instead, Fletcher Building sends an annual review which is a summary of the group's operational and financial activities for the year, although security holders can view the reports on the company's website. In addition, they have a right to receive a copy of these reports on request.
Direct crediting of interest and dividends
To minimise the risk of fraud and misplacement of interest and dividend cheques shareholders and noteholders are strongly recommended to have all payments made by way of direct credit to their nominated bank account. This can be done by simply giving the share registry written notice.
Share registries
Details of the company's share registries are given in the Directory on the inside back cover of this report. Shareholders with enquiries about share transactions, changes of address or dividend payments should contact the share registry in the country in which their shares are registered.
Final dividend information
The company has declared a final dividend for the year of 15 cents per share payable on 20 October 2010. This is in addition to the interim dividend of 14 cents per share paid in April 2010. Partial New Zealand tax credits are attached to the final dividend. No Australian franking credits are attached. The Dividend Reinvestment Plan will not be operative for the final dividend.
2010 Final dividend summary table1
1 This summary is of a general nature and the tax rates used and the calculations are intended for guidance only. As individual circumstances will vary, shareholders are advised to seek independent tax advice.
2 These tax credits are not received in cash but are relevant in determining the gross dividend received for NZ tax purposes. They are comprised wholly of imputation credits and do not include and dividend withholding payment credits. The dividend has imputation credits attached at the rate of 3.2143 cents per share.
3 The supplementary dividend is payable to non-New Zealand shareholders and has the effect of removing the cost of New Zealand non-resident withholding tax on that part of the dividend which is fully imputed. From 1 February 2010, non-resident shareholders with 10% or greater shareholding and/or shareholders from jurisdictions for which the NRWT rate on dividends paid from New Zealand is less than 15% are no longer eligible to receive supplementary dividends. These shareholders are eligible for an exemption from NRWT to the extent the dividend is fully imputed.
4 There are no Australian franking credits attached to this dividend. Refer to the governance section on the Fletcher Building website for the company's franking tax crediting policy.
5 For all NZ resident shareholders who do not hold an exemption certificate, resident withholding tax (RWT) is required to be deducted at 33% from that part of the gross dividend which has not been credited with imputation credits and at 3% from that part of the gross dividend which has been credited with imputation credits at 30%. Accordingly, for those shareholders, a deduction of 2.7964 cents per share will be made on the date of payment from the dividend declared of 15.0 cents per share and forwarded to Inland Revenue. Resident shareholders who have a tax rate less than 33% will need to file a tax return to obtain a refund of the RWT.
6 NZ non-resident withholding tax at the rate of 15% on the gross dividend for NZ tax purposes.
7 This summary uses the 15% income tax rate applicable in Australia to complying superannuation funds, approved deposit funds and pooled superannuation trusts. Different tax rates will apply to other Australian shareholders, including individuals, depending on their circumstances.