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JUMBO INTERACTIVE LIMITED — Notice of Dividend Amount 2017
Jul 10, 2017
65161_rns_2017-07-10_84258f5f-9391-44ec-a50c-e2c1055cbf4d.pdf
Notice of Dividend Amount
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- FULLY FRANKED SPECIAL DIVIDEND 15c PER SHARE
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RECORD DATE 25 JULY 2017
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PAYMENT DATE 8 AUGUST 2017
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Leading internet lottery business, Jumbo Interactive (ASX:JIN) today announced a fully franked special dividend of 15c per ordinary share has been declared as part of the Company’s ongoing cash management strategy. The Company will have approximately $9 million in franking credits following this special dividend payment and ample cash reserves available for any potential acquisitions, expansion opportunities and/or a further special dividend in the future. Record date: 25 July 2017 Payment date: 8 August 2017
The Dividend Reinvestment Plan will be suspended for the fully franked special dividend.
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With the long term stability of the business being underpinned by the recent Tatts transactions as announced 12 May 2017, together with good growth prospects and a current healthy cash reserve position, the board changed the Dividend Policy to 85% of NPAT payout ratio for H2 FY2017 as announced 31 May 2017.
Based on the FY17 forecast NPAT and H1 FY2017 actual results, a final dividend for H2 FY2017 is estimated to be 5.1c (2016: 5.0c) for a total estimated dividend for FY2017 of 8.6c (2016:7.0c).
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In 2000, Jumbo sold its first lottery ticket on the internet and witnessed a dramatic rise in popularity due to the convenience of buying tickets online. Customers are attracted to the security of never losing a ticket and the convenience of automatic number checking and prize payments, syndicates and auto-play. In 2012, Jumbo released a lottery app for the iPhone and a new transition began driven by the convenience of mobile lotteries.
The Company operates the popular website www.ozlotteries.com in Australia under several long term agreements with the Tatts Group (ASX: TTS).
Jumbo has proven its ability to open up new lottery markets with its innovative technology and internet marketing initiatives that have brought lotteries to new demographics via the internet. Jumbo has succeeded in targeting a younger and more mobile demographic with mobile now accounting for 75% of all customer interactions.
For further information:
Mike Veverka CEO and Executive Director
Ph: 07 3831 3705
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