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Dividend Package Booklet
National Australia Bank provides its shareholders with a range of options when it comes to receiving dividends. This booklet sets out the features of the Dividend Package and the terms and conditions, to help you decide on what is the best option for you.
2008 Interim Dividend - Dividend Reinvestment Plan (DRP) and Bonus Share Plan (BSP)
The issue price for ordinary shares under the Company's DRP in respect of the 2008 interim dividend will be determined on 27 June 2008. This represents the arithmetic average of the daily volume weighted average price during the 15 trading days from 6 June 2008 to 27 June 2008 inclusive.
The issue price for ordinary shares under the Company's BSP in respect of the 2008 interim dividend will be determined on 17 June 2008. This represents the arithmetic average of the daily volume weighted average price during the 7 trading days from 6 June 2008 to 17 June 2008 inclusive.
Cash Dividend
If you are not presently in a plan you will automatically receive $A cash dividends.
As an alternative to cash dividends, shareholders may elect to participate in one or more of the following dividend alternatives. Full details of these alternatives may be obtained by contacting the Company's Shareholder Services.
Dividend Reinvestment Plan
The Dividend Reinvestment Plan (DRP) enables shareholders to use cash dividends for the purchase of additional fully paid ordinary shares. Shares are issued under the DRP at the Current Market Price. (The 'Current Market Price' means, for any Dividend the arithmetic average of the Volume Weighted Average Price (VWAP) during the seven Trading Days commencing on the Trading Day after the Record Date for that dividend (or such other date as specified by the Directors), or any other period specified by the Directors and as announced to the market through the Australian Securities Exchange Limited's company announcements platform, calculated to two decimal places.
No brokerage or commission is payable on shares issued under the Dividend Reinvestment Plan.
Eligibility
All shareholders are eligible to participate in the DRP.
However, shareholders in some countries may not be able to participate because of legal and administrative requirements in their country. The Directors of the National have the discretion to determine whether any such shareholders are excluded from the DRP. For example, the Directors have determined that United States shareholders are currently not able to participate, including where shares are held in a broker's clearing account or by a trustee or nominee.
Number of shares that can participate
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There is no minimum limit on the number of your shares that may participate in the DRP.
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Currently, a maximum of 15,000 shares can participate in the plan, unless you are maintaining a broker's clearing account or acting as a trustee or nominee.
The Directors of the National can change or remove this limit from time to time.
If you maintain a broker's clearing account or act as trustee or nominee for other persons and wish to participate in the Dividend Reinvestment Plan in excess of 15,000 National shares in aggregate you must complete the Statutory Declaration, and forward this together with Dividend Nomination Advice to the National's Share Registry. Unless a correctly completed Statutory Declaration is received, your holding participation in the Dividend Reinvestment Plan will be limited to 15,000 National shares.
The United Kingdom Dividend Plan (UKDP) allows dividends to be received from a United Kingdom subsidiary and paid in Pounds Sterling rather than in Australian dollars. Participation in the Dividend Re-investment Plan is also possible.
Shareholders who wish to receive their dividends in New Zealand currency may do so, provided it is deposited directly into an account at a bank in New Zealand.
Please be aware that the variable exchange rates which apply between Australia and New Zealand, will require the relevant rate to be set in advance of the payment date. The conversion rate will be at a rate as determined on the Record Date for determination of dividend entitlements.
It is not intended the above information provide definitive financial or taxation advice. Shareholders should choose their form of dividend with care having regard to their individual circumstances. Shareholders uncertain as to which dividend option is best for them are strongly advised to consult their own financial, taxation or legal adviser.
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