Ann: DIVIDEND: PGW: PGG Wrightson Dividend Policy

• Release Date: 12/12/12 18:35
• Summary: DIVIDEND: PGW: PGG Wrightson Dividend Policy
• Price Sensitive: No
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PGW
12/12/2012 16:35
DIVIDEND

REL: 1635 HRS PGG Wrightson Limited

DIVIDEND: PGW: PGG Wrightson Dividend Policy

It was foreshadowed at the PGG Wrightson's annual shareholders meeting on 24
October 2012 that it was the intention of the board of directors to announce
a dividend policy during the current financial year.  The Chairman of PGG
Wrightson, Sir John Anderson said that the board of directors intend to
recommence dividends and have resolved to adopt a dividend policy geared
towards providing a consistent dividend stream while maintaining financial
flexibility through the business cycle.  The dividend policy is as follows:

The PGG Wrightson board will determine to pay cash dividends (both interim
and final) as appropriate taking into account relevant considerations at the
time including:

- working capital requirements;
- capital expenditure requirements;
- the cyclical nature of agricultural business recognising that the majority
of revenue is generated in the second half of the financial year;
- the interests of shareholders;
- free cash-flow available for distribution; and
- relevant market practice.

Contact:  Sir John Anderson, Chairman
End CA:00231022 For:PGW    Type:DIVIDEND   Time:2012-12-12 16:35:14