Notification of dividend / distribution
Update Summary
Entity name
STEAMSHIPS TRADING COMPANY LIMITED
Security on which the Distribution will be paid
SST - 50 TOEA ORDINARY FULLY PAID
Announcement Type
Update to previous announcement
Date of this announcement
Thursday March 5, 2020
Reason for the Update
Amendment made to the exchange rate at Part 2A.9c and clarification on the dividend approval in Part 5.2.
Additional Information
The final dividend declared for 2019 is Fifty Five Toea (PGK0.55) which is equivalent to $0.24 converted at approximate exchange rate of 2.22 is subject to approval of the Board of Directors at the Board Meeting on 13 March 2020. However, actual amount paid equivalent in AUD will depend on exchange rate secured on Payment Date (Monday August 3, 2020).
Refer to below for full details of the announcement
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Notification of dividend / distribution
Announcement Details
Part 1 - Entity and announcement details
1.1 Name of +Entity
STEAMSHIPS TRADING COMPANY LIMITED
1.2 | Registered Number Type | Registration Number |
ARBN | 055836952 | |
1.3 | ASX issuer code | |
SST |
1.4 The announcement is
Update/amendment to previous announcement
1.4a Reason for update to a previous announcement
Amendment made to the exchange rate at Part 2A.9c and clarification on the dividend approval in Part 5.2.
1.4b Date of previous announcement(s) to this update
Monday March 2, 2020
1.5 Date of this announcement
Thursday March 5, 2020
1.6 ASX +Security Code
SST
ASX +Security Description
50 TOEA ORDINARY FULLY PAID
Part 2A - All dividends/distributions basic details
2A.1 Type of dividend/distribution
Ordinary
2A.2 The Dividend/distribution:
relates to a period of six months
2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)
Tuesday December 31, 2019
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Notification of dividend / distribution
2A.4 +Record Date
Thursday April 30, 2020
2A.5 Ex Date
Wednesday April 29, 2020
2A.6 Payment Date
Monday August 3, 2020
2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?
Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity required before business day 0 of the timetable for the dividend/distribution.
No
2A.8 Currency in which the dividend/distribution is made ("primary currency")
PGK - Kina
2A.9 Total dividend/distribution payment amount per +security (in primary currency) for all dividends/distributions notified in this form
$ 0.55000000
2A.9a AUD equivalent to total dividend/distribution amount per +security
$ 0.24000000
2A.9c FX rate (in format AUD 1.00 / primary currency rate): AUD
FX rate (in format AUD rate/primary currency rate) Primary Currency rate
AUD 1.00 | $ 2.22000000 |
2A.10 Does the entity have arrangements relating to the currency in which the dividend/distribution is paid to securityholders that it wishes to disclose to the market? No
2A.11 Does the entity have a securities plan for dividends/distributions on this +security?
We do not have a securities plan for dividends/distributions on this security
2A.12 Does the +entity have tax component information apart from franking?
No
2A.13 Withholding tax rate applicable to the dividend/distribution (%)
15.000000 %
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Notification of dividend / distribution
Part 3A - Ordinary dividend/distribution | ||
3A.1 Is the ordinary dividend/distribution estimated at | 3A.1a Ordinary dividend/distribution estimated amount | |
this time? | per +security | |
No | $ | |
3A.1b Ordinary Dividend/distribution amount per | ||
security | ||
$ 0.55000000 | ||
3A.2 Is the ordinary dividend/distribution franked? | ||
No | ||
3A.3 Percentage of ordinary dividend/distribution that is | ||
franked |
0.0000 %
3A.4 Ordinary dividend/distribution franked amount per +security
$ 0.00000000
3A.6 Ordinary dividend/distribution unfranked amount per +security excluding conduit foreign income amount
3A.5 Percentage amount of dividend which is unfranked
100.0000 %
$ 0.55000000
Part 5 - Further information
5.1 Please provide any further information applicable to this dividend/distribution
Dividend distributions in Australian Dollars to non-resident PNG shareholders on the 3rd August 2020 is dependent on the company's ability to secure foreign exchange. Currently due to Bank of Papua New Guinea exchange controls.
there is a large back log of currency purchase orders.
5.2 Additional information for inclusion in the Announcement Summary
The final dividend declared for 2019 is Fifty Five Toea (PGK0.55) which is equivalent to $0.24 converted at approximate exchange rate of 2.22 is subject to approval of the Board of Directors at the Board Meeting on 13 March 2020. However, actual amount paid equivalent in AUD will depend on exchange rate secured on Payment Date (Monday August 3, 2020).
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Disclaimer
Steamships Trading Company Limited published this content on 05 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2020 06:35:10 UTC