Dividends - Sky
Sky’s dividend policy is:
To distribute between 60% and 90% of Free Cash Flow 1
(excluding one-off items)
Sky is targeting increased dividend distributions based on growth in Free Cash Flow.
Our policy is to pay out the majority of Free Cash Flow, excluding one off items, within the context of market conditions and investment opportunities.
We will look to pay approximately 40% of the annual dividend by way of an interim distribution, with interim dividends generally paid in March and final dividends in September.
To the extent they are available, it is the intention of the Board to attach imputation credits to dividends.
1. Free Cash Flow is defined as net cash from operations, less payments for lease liability principal, less both replacement and growth capex, but excluding one off items such as material acquisitions or disposals of assets.
Sky dividends are paid in New Zealand or Australian currency. Non-resident shareholders receiving dividends will typically be subject to non-resident withholding tax. To the extent imputation credits are available, Sky expects to pay supplementary dividends to non-resident shareholders pursuant to the foreign investor tax credit regime to reduce or eliminate the economic impact of statutory withholding taxes for those non-residents.