L1 Group locks in dividend cash and reinvestment details
L1 Group has finalised the key terms of its 2 cent fully franked interim dividend, confirming a Dividend Reinvestment Plan price of $1.2326. New DRP shares will be issued on 23 September, while New Zealand holders will receive the dividend equivalent in NZD.
- 2 cents per share, fully franked
- DRP price set at $1.2326 with no discount
- Payment scheduled for 23 September 2026
- NZD equivalent confirmed at NZ$0.02443422 per share
- Default option remains cash payment
Dividend Terms Finalised
L1 Group Limited (ASX:L1G) has put the final numbers around its previously announced six-month dividend, confirming a fully franked payment of 2 cents per ordinary share for the period ended 30 June 2026. The update, lodged on 8 September, does not change the dividend amount or timetable; it supplies the reinvestment price and the New Zealand dollar equivalent.
The dividend is payable on 23 September 2026. The shares traded ex-dividend from 1 September, with the record date set for 2 September, meaning the key eligibility dates have already passed. For shareholders, the remaining event is the payment itself, rather than a fresh change to the distribution terms.
The 2-cent payment is 100% franked, with a stated corporate tax rate of 30%. That gives eligible Australian shareholders the associated franking benefit, subject to their individual tax circumstances. The filing does not disclose the total cash value of the distribution.
DRP Price and Currency Conversion Confirmed
L1 Group’s full Dividend Reinvestment Plan will operate for this distribution, but cash remains the default for holders who do not elect to participate. The DRP price has been set at $1.2326, with no discount, based on the volume-weighted average price over the five business days from 1 to 7 September after the shares ceased trading cum-dividend.
New shares issued through the DRP will be created on the payment date and will rank equally with existing shares from issue. The plan has no stated minimum or maximum participation threshold, although participation is generally available to holders whose registered address is in Australia or New Zealand. The filing does not state how many new shares the DRP is expected to create.
New Zealand shareholders who nominate an NZD bank account before the record date will receive the dividend converted at a spot exchange rate. The confirmed equivalent is NZ$0.02443422 per share, calculated using an exchange rate of 1.221711. Holders cannot choose a different payment currency under the default arrangements.
Bottom Line?
The dividend is now largely mechanical: shareholders should focus on the 23 September payment and the number of new shares ultimately issued through the DRP.
Questions in the middle?
- How many shareholders will elect reinvestment rather than cash payment?
- How many new L1G shares will be issued under the DRP?
- Will the DRP share issue materially affect the company’s future capital base or dividend per share?
