Pilbara Minerals Capital Management Framework is designed to establish an appropriate structure that prudently allocates available capital between investment into the existing business, sustainability commitments, strategic growth opportunities, as well as the provision of sustainable returns to shareholders.
The Framework, which is set out in Figure 1 below, prioritises allocation of capital first to maintaining safe and reliable operations, as well as near term productivity initiatives designed to maximise cash generation from existing operations.
Net operating cash flow generated is then intended to be allocated to:
Excess cash flow above and beyond these priorities can then be allocated to further investment to improve the Company’s operations, investment in organic and inorganic growth and acquisitions opportunities, debt reduction and/or further returns to shareholders.
Figure 1: Capital Management Framework
Net operating cash flow
Excess cash flow
As with any capital management framework and dividend policy, it is subject to prevailing market conditions at the time.
Dividends will be paid to Australian and New Zealand shareholders by way of direct credit only.
Shareholders should ensure their banking details registered with Computershare are up to date. Shareholders that did not provide valid banking instructions for any prior dividends will have their payment held in a non-interest-bearing account until they have done so. The same will also apply for any future cash dividends paid by Pilbara Minerals.
For shareholders to provide or update their banking details and ensure their other information is up to date, they should visit Computer Share Easy Update.
Shareholders may also provide or update their banking details by completing a Direct Credit Form and returning that form to Computershare Australia. Direct Credit Forms can be obtained by contacting Computershare Australia:
Direct Credit Forms should be returned to Computershare Australia:
| Period | Payment Date | Record Date | Dividend (A$ cents per share) | Franking (%) |
|---|---|---|---|---|
| FY23 interim | 24 March 2023 | 3 March 2023 | 11 | 100 |
| FY23 final | 27 September 2023 | 6 September 2023 | 14 | 100 |
Pilbara Minerals does not currently offer a Dividend Reinvestment Plan.
1 Free cash flow is defined as statutory cashflow from operating activities less tax paid/payable less sustaining capital (inclusive of capitalised waste mine development).