Originally Posted by
moosie_900
Yeah that was a special one off though, as referred to in the November 30 communique:
30 November 2012
Heartland New Zealand Limited (Heartland) (NZX:HNZ) has adopted a dividend
policy, and determined to pay a special dividend.
Dividend Policy
The directors of Heartland have adopted a dividend policy. The policy is as
follows:
Heartland will determine dividends (both interim and final) based on its net
profit after tax, subject to maintaining a prudent level of capital for its
needs. Heartland's capital needs will vary from time to time, depending on a
range of factors (including regulatory and credit rating requirements,
general economic conditions, current and expected growth and the mix of
business). A key objective is to ensure an appropriate balance between
maximising shareholder returns, and protecting the interests of depositors
through prudent capital management.
Special Dividend
The directors of Heartland have resolved to pay a special dividend of 1.5
cents per share on 21 December 2012 to shareholders on the company's register
as at 5.00pm on 14 December 2012. This dividend will be fully imputed.
So, it sounds pretty straight forward that it is based on NPAT, but then they throw in cloudy, murky things like "general economic conditions" and "mix of business". In other words, you're guess is as good as mine, but I would guess it will be better than 1.5 cents if NPAT is met or exceeded!