The PGG Wrightson Board will determine to pay cash dividends (both interim and final) as appropriate taking into account relevant considerations at the time including:
- Working capital requirements;
- Capital expenditure requirements;
- The cyclical nature of agricultural business recognising that the majority of revenue is generated in the second half of the financial year;
- The interests of Shareholders;
- Free cash-flow available for distribution; and
- Relevant market price.
This policy is geared towards providing a consistent dividend stream while maintaining financial flexibility through the business cycle.
Adopted on 12 December 2012 and remains in effect until otherwise determined by the Board of Directors of PGG Wrightson Limited.