APA Group (APA) today announced its estimated distribution of 17.0 cents per stapled security for the six months ending 30 June 2010.
Based on that estimate, with the interim distribution of 15.75 cents paid in March 2010, total distributions for the 2010 financial year will be 32.75 cents per security. That represents an increase of 5.7% over the previous year’s distributions, which is consistent with APA's guidance of a minimum 5% growth in the year’s distributions.
The actual amount of the final distribution, and its tax deferred status, will be determined following finalisation of the 2010 financial results, which are due for release on 25 August 2010.
The key dates for the final distribution are:
| Securities trade ex distribution | 24 June 2010 |
| Record Date | 30 June 2010 |
| Payment Date | 15 September 2010 |
Record Date
The Distribution Reinvestment Plan (DRP) will operate for this distribution at a discount of 2.5%. The DRP issue price for this distribution will be based on the volume weighted average price of APA’s securities traded on the ASX for the ten trading days ending on 8 September 2010, less the discount.
Securityholders may elect to participate in the DRP, or vary their participation, by notice in writing to APA’s registry Link Market Services Limited. Forms can be downloaded from APA’s website www.apa.com.au or requested on 02 8280 7132, and must be received by the Record Date (30 June 2010) to apply to this distribution.