Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Capital Management and Dividends

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Capital Management and Dividends
 12 Months Ended
Mar. 31, 2016
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Capital Management and Dividends

17.  Capital Management and Dividends

The following table summarizes the dividends declared or paid during the fiscal years 2016, 2015 and 2014:

 

(Millions of US dollars)   US
Cents/Security		     US$ Total
Amount		     Announcement Date   Record Date   Payment Date

FY 2016 first half dividend

     0.09        39.7      19 November 2015   23 December 2015   26 February 2016

FY 2015 special dividend

     0.22        92.8      21 May 2015   11 June 2015   7 August 2015

FY 2015 second half dividend

     0.27        114.0      21 May 2015   11 June 2015   7 August 2015

FY 2015 first half dividend

     0.08        34.2      19 November 2014   23 December 2014   27 February 2015

FY 2014 special dividend

     0.20        89.0      22 May 2014   12 June 2014   8 August 2014

FY 2014 second half dividend

     0.32        142.3      22 May 2014   12 June 2014   8 August 2014

125 year anniversary special dividend

     0.28        124.6      28 February 2014   21 March 2014   30 May 2014

FY 2014 first half dividend

     0.08        35.5      14 November 2013   19 December 2013   28 March 2014

FY 2013 special dividend

     0.24        106.1      23 May 2013   28 June 2013   26 July 2013

FY 2013 second half dividend

     0.13        57.5      23 May 2013   28 June 2013   26 July 2013

During fiscal year 2016, the Company announced a share buyback program (the “fiscal 2016 program”) to acquire up to 5% of its issued capital in the twelve months through May 2016. Under this program, the Company repurchased and cancelled 1,653,247 shares of its common stock during the second quarter of fiscal year 2016. The aggregate cost of the shares repurchased and cancelled was A$30.0 million (US$22.3 million), at an average market price of A$18.14 (US$13.50).

Upon the expiration of the fiscal 2016 program, the Company announced a new share buyback program (the “fiscal 2017 program”) to acquire up to US$100.0 million of its issued capital in the twelve months through May 2017.

Subsequent to 31 March 2016, the Company announced an ordinary dividend of US29.0 cents per security, with a record date of 9 June 2016 and a payment date of 5 August 2016.