Neometals {ASX: NMT} has conformed it is to pay shareholders a 2 cents per share unfranked dividend.
The qualification date is 22nd March 2016.
Further to the ASX announcement release on 24 February 2016, the Board of Neometals Ltd {ASX: NMT} advises that the proposed cash payment to shareholders of 2 cents per share (approximately A$11.2m in total) will now be paid entirely as an unfranked dividend.
After further consideration of the proposed return in consultation with tax advisers, the Board has determined that the proportion of any return that could be attributed as a return of capital is minimal.
The Board has accordingly decided that is preferable to proceed immediately with an unfranked dividend and avoid additional costs and delays that would be associated with seeking shareholder approval for the return of capital.
As a result, the directors have declared a dividend of 2 cents per share, to holders of ordinary shares registered at 4.00pm WST on 22 March 2016.