WDS Limited (ASX:WDS), a leading service provider to the Energy and Mining sectors, is pleased to advise that today the Board of WDS declared the first interim quarterly dividend of 1 cent per share, fully franked, payable on 19 December 2013 to shareholders on the register at 29 November 2013.
The declaration of the first interim quarterly dividend was foreshadowed by WDS in the full year results announcement following a capital management review where the Board determined to optimize its dividend policy in order to maximize returns to its shareholders.
The key components of the new dividend policy include:
- An increase in the target payout ratio from 40-60% to at least 80%
- The introduction of quarterly dividend payments with interim dividends paid in December, March and June and the final dividend paid in September
- Payment of dividends will be strongly weighted to the final payment once the full year results have been finalised and capital requirements for the following year accurately established.
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