Ann: Dividend Declaration, page-176

This is new territory for me and also for TER (receiving and paying quarterly dividends), so i am not sure what to expect to be honest.

Following are just my suspicions. TER will announce 3 * interim dividends around the same time they release their quarterly results (due date 1 month after each quarter). Then a final dividend around when they release the Financial Statements (due two months after year end - 31 August).

Based on the dividend they just paid, TER went Ex Date 7 days after announcement and the payment was 14 days after Ex Date, i have done the following table of what i suspect might happen. This is based on due dates of reporting - there is nothing stopping TER releasing their reports early or declaring a dividend before releasing the report - they may even announce a dividend just after quarter end, bringing forward payment possibly by a 3-4 weeks.

I guess, this table is a worse case scenario... but TER might delay payment of the dividend a month, but i can't see that happening if they have just changed the dividend policy and want to pay out up to 90% of the NPAT, if anything management will probably pay earlier than my suspicions.



June 22 Final Dividend details: