Details of the current and previous dividends and the DRIP dividend scheme
For 2010/11 onwards, dividends payable by CWC will be declared in US dollars, in line with the post-demerger reporting currency of the CWC Group. The default currency for payment of such dividends will be sterling however shareholders may elect to receive their dividends in US dollars by completing the currency mandate form.
Accordingly, the actual sterling amount of the dividend payable by CWC from time to time will be based on the sterling/US dollar exchange rate in effect on a date chosen by the directors of CWC nearer to the relevant dividend payment date.
For 2010/11 the CWC Board has confirmed that, subject to shareholder approval, availability of sufficient distributable reserves, general market conditions and financial and trading performance, the aggregate dividend expected to be payable by it will be 8.00 US cents per CWC ordinary share, equivalent to approximately 5.00 pence per CWC ordinary share (subject to movements in the sterling/US dollar exchange rate).
Beyond 2010/11, the CWC Board intends to pursue a policy of dividend growth that reflects the underlying earnings and cash flow of the CWC Group. The CWC Board expects the structure of dividends to be split approximately one third as an interim dividend and approximately two thirds as a final dividend.
Dividend reinvestment plan (DRIP)
The Company is pleased to offer a dividend reinvestment plan to shareholders as a method to reinvest dividends into shares in the Company if they wish to do so.
The dividend reinvestment plan application form is available from the link below:
Our Share Dividend Team at our Registrars, Equiniti, will be able to answer any questions. They may be contacted at:
Share Dividend Team
Tel: 0871 384 2104 (UK shareholders)
Tel: +44 121 415 7052 (Overseas shareholders)