Distributions & DRP
Agricultural Land Trust pays distributions half yearly, where appropriate. The interim distribution is normally paid in March (31 December record date) and the final distribution in September or October (30 June record date).
Prior to each record date the Trust will endeavour to announce the distribution details for the upcoming distribution, including:
- Estimated cash distribution
- Ex-distribution date
- Record date
- Expected payment date
- Percentage discount applicable under the Distribution Reinvestment Plan.
Between the Record Date and the Payment Date the Trust will endeavour to announce the following:
- Confirmation of the cash distribution amount
- DRP price calculated in accordance with the DRP Rules
- Managed Investment Trust notice to custodians and intermediaries with details of the fund payment subject to withholding tax (Subdivision 12-H Notice).
On or just after the Payment Date the Trust will send payment notices to each unitholder that provide details of their distributions.
The Annual Tax Statement is normally sent with the final distribution payment notice in September or October.
Distribution Reinvestment Plan
The Distribution Reinvestment Plan (“DRP”) allows eligible unitholders who elect to participate to reinvest all or a portion of their distribution entitlements in additional units in the Trust. Units are issued free of brokerage and other costs.
Units may be issued at a discount to the market price at a level, if at all, determined by the Directors. The discounts historically applied to units issued under the DRP are shown in Distribution History table below. Also shown in the table is a summary of DRP unit prices.
In addition to providing unitholders with flexibility in receiving their distribution entitlement, the DRP also provides the Trust with a means of raising capital on a regular basis.
The DRP is optional and is open to all unitholders in the Trust except those who are resident in or subject to laws of any country in which offering or issuing units under the DRP would be unlawful or make it impractical, in the opinion of the Directors, for the DRP to be offered to them.
For the DRP Rules that contain the terms and conditions of the DRP click here ( Adobe PDF Document, 561 KB).
Distribution and DRP History
|Distribution Period ended||Total Cash distribution (cents/unit)||Cash distribution comprised of (cents/unit):||Relevant Dates for distribution||DRP details|
|Capital Gain||Aust. Interest||Aust. Other||Tax Advantaged||Ex-distribution Date||Record Date||Payment Date||Discount to market||Price (cents)|
|30 June 2016||-||-||-||-||-|
|30 June 2015||-||-||-||-||-|
|30 June 2014||0.528||-||0.009||0.519||-||26/6/14||30/6/14||26/9/14||8.92|
|30 June 2013||2.82||-||0.038||2.782||-||25/6/13||1/7/13||27/9/13||5.0%||8.47|
|31 Dec 2012||-||-||-||-||-|
|30 Jun 2012||3.180||-||0.151||3.029||-||25/6/12||29/6/12||8/10/12||5.0%||13.30|
|31 Dec 2011||-||-||-||-||-|
|30 Jun 2011||1.490||-||0.029||1.461||-||24/6/11||30/6/11||27/9/11||2.5%||13.16|
|31 Dec 2010||0.960||-||0.027||0.933||-||23/12/10||31/12/10||28/3/11||2.5%||18.53|
|30 Jun 2010||0.920||-||0.030||0.890||-||24/6/10||30/6/10||27/9/10||2.5%||12.68|
|31 Dec 2009||1.100||-||0.014||1.086||-||23/12/09||31/12/09||26/3/10||2.5%||17.06|
|30 Jun 2009||1.027||-||0.019||1.008||-||24/6/09||30/6/09||28/9/09||10.0%||13.50|
|31 Dec 2008||1.400||-||0.170||1.230||-||23/12/08||31/12/08||27/3/09||10.0%||25.00|
|30 Jun 2008||2.050||-||2.050||-||-||24/6/08||30/6/08||26/9/08||2.5%||24.33|
|30 Jun 2007||9.700||8.633||1.0670||-||-||8/10/07||11/10/07||15/11/07||2.5%||32.00|
|30 Jun 2006||-||-||-||-||-|
|30 Jun 2005||-||-||-||-||-|
|31 Mar 2005||1.500||-||-||-||1.500||25/3/05||1/4/05||21/4/05||5.0%||62.00|
|31 Dec 2004||1.500||-||-||-||1.500||23/12/04||31/12/04||21/1/05||5.0%||65.00|
|30 Sept 2004||1.500||-||-||-||1.500||24/9/04||30/9/04||21/10/04||5.0%||67.00|
|30 Jun 2004||1.610||-||-||-||1.610||24/6/04||30/6/04||21/7/04||None||76.00|
|31 Mar 2004||1.610||-||-||-||1.610||25/3/04||31/3/04||21/4/04||None||85.00|
|31 Dec 2003||1.610||-||-||-||1.610||23/12/03||31/12/03||21/1/04||None||80.00|
|30 Sept 2003||1.610||-||-||-||1.610||24/9/03||7/10/03||27/10/03||None||75.00|
|30 Jun 2003||1.610||-||-||-||1.610||27/6/03||30/6/03||28/7/03||None||90.00|
The Trust announced a change in direction to an agricultural property trust in October 2007.