Dividends
Our dividend policy targets an ordinary dividend within the range of 15% to 35% of free cash flows after interest and tax, and having adjusted for any windfall earnings.
The Board would ordinarily look to the annual dividend being paid 1/3 following its interim results and 2/3 after its full year results. In a year where Petra generates windfall earnings, the Board may consider paying a special dividend.
Prior to declaring or recommending any dividend, the Board will consider the Group’s capital commitments, including, amongst other things, approved expansion projects and debt servicing and repayment commitments and associated covenant requirements, to ensure that the Group maintains a healthy balance sheet and sufficient liquidity and headroom.
