TRA declares higher quarterly dividend/re-affirms guidance

8 October 2018

Turners declares higher quarterly dividend and re-affirms guidance

The Board of Turners Automotive Group Limited (NZX: TRA) has declared the first quarterly dividend for
the 2019 financial year of 4 cents per share, fully imputed, with a record date of 23 October 2018 and a
payment date of 30 October 2018.
In addition, the Board advises that it expects to declare a further two quarterly fully imputed dividends
of 4 cents per share in January and April 2019, followed by a fully imputed final dividend of 5 cents per
share in July 2019.
Chairman Grant Baker said: “The ongoing positive performance of Turners Automotive Group allows for
increasing distributions and we are targeting a minimum FY19 full year dividend of 17 cents per share
(up 10% on FY18). Based on a share price of around $2.90, this represents an annualised yield of 5.9%
fully imputed.”
This dividend payment profile is consistent with the Company’s policy of paying dividends totalling 50%
to 60% of Net Profit after tax to shareholders and enables the company to balance the twin objectives of
providing consistent and reliable dividend returns to shareholders and ensuring sufficient profits are re-
invested in the business to underpin future profit and dividend growth”.
At the recent Annual Meeting, the Board reaffirmed its previous profit guidance for FY19 of a Net Profit
before Tax of between $34 million and $36 million, the mid-point representing a 13% increase over
FY18.
Turners CEO, Todd Hunter, said: “Turners has never been in better financial shape, with a conservative
equity ratio and an improved diversified funding platform to support growth. The investments we are
making into people, property and our businesses will deliver further benefits in the second half and we
are seeing positive momentum in the company. Our confidence in our strategy and long term prospects
remains at high levels.”
ENDS

About Turners
Turners Automotive Group Limited is an integrated financial services group, primarily operating in the
automotive sector www.turnersautogroup.co.nz

For further information, please contact;
Todd Hunter, Chief Executive Officer, Turners Automotive Group Limited Mob: 021 722 818
Media Liaison and Assistance: Jackie Ellis, Mob: 027 246 2505

---

APPENDIX 7 – NZSX Listing Rules
Number of pages including this one
(Please provide any other relevant
NZSX Listing Rule 7.12.2. For rights, NZSX Listing Rules 7.10.9 and 7.10.10. details on additional pages)
For change to allotment, NZSX Listing Rule 7.12.1, a separate advice is required.
Full name
of Issuer
Name of officer authorised to
Authority for event,
make this notice
e.g. Directors' resolution
Contact phone
Contact fax
numbernumber
Date
Nature of event
BonusIf ticked,
Rights Issue
Tick as appropriate
Issue
state whether:Taxable
/ Non TaxableConversionInterestRenouncable
Rights IssueCapitalCallDividend
If ticked, stateFull
non-renouncable
change

whether:
Interim

YearSpecialDRP Applies
EXISTING securities affected by this
If more than one security is affected by the event, use a separate form.
Description of theISIN
class of securities
If unknown, contact NZX
Details of securities issued pursuant to this eventIf more than one class of security is to be issued, use a separate form for each class.
Description of theISIN
class of securities
If unknown, contact NZX
Number of Securities toMinimum
Ratio, e.g
be issued following eventEntitlement
1 for 2 for
Conversion, Maturity, Call
Treatment of Fractions
Payable or Exercise Date
Tick if
provide an
pari passu
ORexplanation
Strike price per security for any issue in lieu or date
of the
Strike Price available.
ranking
Monies Associated with Event
Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money.
Source of
Amount per security
Payment
(does not include any excluded income)
Excluded income per security
(only applicable to listed PIEs)
Supplementary
Amount per security
Currencydividendin dollars and cents
details -
NZSX Listing Rule 7.12.7
Total monies
TaxationAmount per Security in Dollars and cents to six decimal places
In the case of a taxable bonusResident
Imputation Credits
issue state strike priceWithholding Tax(Give details)
Foreign
FWP Credits
Withholding Tax(Give details)
Timing
(Refer Appendix 8 in the NZSX Listing Rules)
Record Date 5pmApplication Date
For calculation of entitlements -Also, Call Payable, Dividend /
Interest Payable, Exercise Date,
Conversion Date. In the case
of applications this must be the
last business day of the week.
Notice DateAllotment Date
Entitlement letters, call notices,For the issue of new securities.
conversion notices mailedMust be within 5 business days
of application closing date.
OFFICE USE ONLY
Ex Date:
Commence Quoting Rights:Security Code:
Cease Quoting Rights 5pm:
Commence Quoting New Securities:Security Code:
Cease Quoting Old Security 5pm:
Ordinary sharesNZVNLE0001S1
EMAIL: announce@nzx.com
Notice of event affecting securities
1
Turners Automotive Group Limited
Barbara BadishDirectors' resolution
09 308 496709 308 498208101018
Enter N/A if not
applicable
In dollars and cents
Retained earnings
$0.04000
$0.00000
NZD$0.007059
$3,579,213
Date Payable
30 October, 2018
$$0.002778$0.015556
$
23 October, 201830 October, 2018