11

Dividends

The strength of the underlying cash flow generation and continuing success with deleveraging, have allowed the Company to announce a formal dividend policy.

Going forward, the Company aims to declare dividends of a minimum amount of US$300 million per annum to be paid in semi-annual instalments of minimum US$150 million each following interim and full year results.

Based upon the financial performance of the business, the Board may consider a higher distribution level, taking into account the outlook for our major markets, the Board’s view of the long-term growth prospects of the business and future capital investment requirements, as well as the Company’s commitment to maintain a strong balance sheet.

In line with our existing capital allocation policy, no dividends will be paid out if Net Debt/EBITDA is above 3.0x.


For calendar year
 Record dateResults announcedDividend announcedDividend per share
2018Third interim23 November 2018-15 November 2018US $0.25
2018Second interim17 August 201809 August 20189 August 2018US $0.40
2018Interim8 June 2018-24 May 2018US $0.13
2017Second interim9 March 20181 March 20181 March 2018US $0.30
2017 Interim 18 August 2017 10 August 2017 10 August 2017 US $0.30
2016 Final not declared
Interim not declared
2015 Final not declared
Interim not declared
2014 Finalnot declared
Interimnot declared
2013Special 6 June 2014 9 April 2014 9 April 2014 US $0.06
Interimnot declared


2012Finalnot declared


Interim7 September 201230 August 201230 August 2012US $0.11
2011Final8 June 201228 March 201228 March 2012US $0.17
Interim28 October 201112 October 201112 October 2011US $0.6