Notice to Dividend Reinvestment Plan Participants
Chorus Limited
Level 10, 1 Willis Street
P O Box 632
Wellington
New Zealand
Email: company.secretary@chorus.co.nz
STOCK EXCHANGE ANNOUNCEMENT
6 April 2021
Notice to Dividend Reinvestment Plan Participants
Chorus has today suspended the dividend reinvestment plan (DRP) in relation to its 2021
interim dividend (Interim Dividend) and will instead pay out the Interim Dividend to
shareholders in cash.
Following Chorus’ update to the market on 26 March 2021 in relation to the estimated
Initial Asset Value for the new regulatory framework currently being implemented by
the Commerce Commission, the Chorus share price has fallen materially.
Given the timing of the regulatory announcement and its impact on the share price,
Chorus has determined that payment of the Interim Dividend in cash is more
equitable for shareholders than issuing shares under the DRP at the previously
announced strike price of NZ$7.6395. At market close on 1 April 2021 (being the last
trading day before the Easter break), the Chorus share price was NZ$6.95.
Reverting to a cash payment for all dividends is permitted under the DRP terms and
conditions.
The Interim Dividend of NZ$0.105 cents per share will be paid in cash to shareholders’
nominated bank accounts on 13 April 2021. A supplementary dividend of NZ$0.01852941
cents per share will also be paid on 13 April to shareholders who are not resident in New
Zealand.
If you have not nominated a bank account to receive payments from Chorus, or would like
further information, please contact our share registrar, Computershare, on +64 9 488
8777 in New Zealand, +61 1 800 501 366 in Australia, or email
enquiry@computershare.co.nz.
Authorised by:
David Collins
Chief Financial Officer
ENDS
For further information:
Brett Jackson
Investor Relations Manager
Phone: +64 4 896 4039
Mobile: +64 (27) 488 7808
Email: Brett.Jackson@chorus.co.nz
Steve Pettigrew
Head of External Communications
Mobile: +64 27 258 6257
Email: steve.pettigrew@chorus.co.nz
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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