NZME declares special dividend

NZME Limited. 2-4 Graham Street, Private Bag 92198, Victoria Street West, Auckland.
1
MARKET ANNOUNCEMENT
NZME declares special dividend

AUCKLAND, 20 June 2022: NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) has today declared
a special dividend.

On 17 December 2021, NZME advised the market that it would undertake an on-market buyback
programme for up to 21,428,571 shares for an aggregate purchase price of up to $30 million
following the release of its annual results in February 2022. The buyback programme may run for
up to twelve months, with that period ending on 16 December 2022.

To date NZME has purchased 4,012,524 shares through the buyback programme for an aggregate
purchase price of $5,249,515, being an average purchase price per share of $1.31. This equates
to 17.5% of the maximum aggregate purchase price under the buyback programme of $30 million.

The buyback programme is currently paused as NZME has entered its restricted trading period as
set out in the NZME Securities Trading Policy. Given the slower than anticipated progress of the
buyback programme to date, the Board have declared a special dividend of 5.0 cents per share,
equating to $9.7 million. The aggregate amount of the special dividend, when combined with the
purchases under the buyback programme to date, brings the total to $15 million. The dividend will
be paid on 12 July 2022 to shareholders on the register at 5pm on 28 June 2022. The special
dividend will include a supplementary dividend payable to shareholders who are not tax resident in
New Zealand and who hold less than 10 percent of the shares in NZME (and who are subject to
non-resident withholding tax on dividends of 15 per cent or more). The special dividend will be fully
imputed and partially franked. Please refer to the attached Distribution Notice for more detail.

This special dividend may result in NZME paying dividends that exceed the 30-50% of free cashflow
target specified in NZME’s Dividend Policy. Pursuant to NZX Listing Rule 3.14.4 NZME discloses
that the rationale for paying a dividend otherwise than in accordance with its Dividend Policy is that
this special dividend will provide a return of capital to shareholders given the slower than anticipated
progress of the buyback programme.

As a result of the payment of the special dividend, the maximum aggregate purchase price for
shares that may be acquired by NZME through the buyback programme will be reduced by the
amount of the special dividend, with such amount now being $20.3m million, including the $5.3
million already purchased.

NZME’s Dividend Policy is unaffected by this special dividend. The NZME Board will assess the
interim dividend as part of the interim results in August 2022.

ENDS

Authorised by: The Board of NZME Limitedbruary 2

[022
20 June 2022
FOR IMMEDIATE RELEASE

NZME Limited. 2-4 Graham Street, Private Bag 92198, Victoria Street West, Auckland.
2
MARKET ANNOUNCEMENT
Contact:

Investors:
David Mackrell
Chief Financial Officer
+64 21 311 911
David.mackrell@nzme.co.nz
Media:
Kelly Gunn
GM Communications
+64 27 213 5625
Kelly.gunn@nzme.co.nz

About NZME

New Zealand Media and Entertainment (NZME) is an integrated media company, with a portfolio
of market leading news, entertainment and real estate brands strategically positioned across a
network of digital, print and audio platforms.
With a combined audience of 3.4 million New Zealanders*, NZME supports commercial partners to
grow customer engagement with a data driven, audience and customer centric approach. NZME is
listed on the NZX Main Board (code NZM) with a foreign exempt listing on the ASX (code NZM).
*SOURCE: Nielsen CMI Fused Q1 21 – Q4 21 January 2022 AP15+

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Distribution Notice




Please note: all cash amounts in this form should be provided to 8 decimal places

Section 1: Issuer information
Name of issuer NZME Limited
Financial product name/description Ordinary shares
NZX ticker code NZM
ISIN (If unknown, check on NZX
website)
NZNZME0001S0
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year Special X
DRP applies
Record date 28/06/2022
Ex-Date (one business day before the
Record Date)
27/06/2022
Payment date (and allotment date for
DRP)
12/07/2022
Total monies associated with the
distribution
1

$ 9,677,876.85000000
Source of distribution (for example,
retained earnings)
Retained earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
2
$0.06944444
Gross taxable amount
3
$0.06944444
Total cash distribution
4
$0.05000000
Excluded amount (applicable to listed
PIEs)
$
Supplementary distribution amount $0.00882353
Section 3: Imputation credits and Resident Withholding Tax
5

Is the distribution imputed Fully imputed X
Partial imputation
No imputation

1
Continuous issuers should indicate that this is based on the number of units on issue at the date of the form
2
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of
Resident Withholding Tax (RWT).
3
“Gross taxable amount” is the gross distribution minus any excluded income.
4
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT.
This should include any excluded amounts, where applicable to listed PIEs.
5
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is
fully imputed the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not constitute
advice as to whether or not RWT needs to be withheld.

If fully or partially imputed, please
state imputation rate as % applied
6

28%
Imputation tax credits per financial
product
$0.01944444
Resident Withholding Tax per
financial product
$0.00347222
Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
%
Start date and end date for
determining market price for DRP

Date strike price to be announced (if
not available at this time)

Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)

DRP strike price per financial product
$
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms

Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Michael Boggs
Contact person for this
announcement
Allison Whitney
Contact phone number 027 479 0697
Contact email address allison.whitney@nzme.co.nz
Date of release through MAP

20/06/2022





6
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.