Prior to listing the Company declared a 6 cents fully franked dividend for the 2020 financial year, and a 15 cents fully franked dividend for the 2020 financial year (12 cents ordinary dividend plus 3 cents special dividend).
In January 2022 the Board declared a 7.5 cents fully franked half year dividend, an annualised increase of 25% on last year’s ordinary dividends, reflecting the strong performance of the company over the current year. This interim dividend equates to a 5.1% annualised fully franked yield or a 7.3% gross yield (grossed up for franking credits) based on the share price when the dividend was declared of $2.94 per share. CDO currently has a healthy profits reserves balance from which it can pay future dividends of around 60 cents per share (i.e. based off this interim dividend this equates to around 4 years of dividends before earning any future profits)
The Dividend Re-Investment Plan (“DRP”) is in operation for the interim dividend. The issue price will be at a 5% discount to the weighted average of the prevailing share price over the relevant DRP pricing period.
The Ex-Date for the dividend is the 31st March 2022. The payment date for the dividend is the 14th April 2022.
The Board of the Company is committed to paying a continuous and growing stream of fully franked dividends to shareholders provided the Company is able, has sufficient franking credits and it is within prudent business practices.
Dividends are paid on a six-monthly basis.
The Board may from time-to-time pay Special dividends if deemed prudent to do so.
Dividend Reinvestment Plan
The Company operates a Dividend Reinvestment Plan (DRP) which is available to shareholders for both the Interim and Final Dividend.
More information, including the DRP Election Form, can be found in the Dividend Reinvestment Plan section.
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