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Kiwi Capital Securities Ltd Dividend Rate of 8.15%
Kiwi Capital Securities Ltd Dividend Rate of 8.15% P.a. for the First Five Years
Kiwi Capital Securities Limited, a related company of Kiwibank Limited, today announced that the initial Dividend Rate on its issue of Kiwi Income Securities has been set at 8.15% p.a.
The dividend payments will be comprised of a cash payment and, to the extent available, imputation credits attached to the cash payment. The cash payment will be a proportion of the Dividend Rate.
The $150 million issue closed fully subscribed. The proceeds from the issue of the Shares are to be ultimately used to provide tier 1 capital to Kiwibank Limited.
ANZ National Bank Limited acted as Arranger for the offer. The Joint Lead Managers for the offer were ANZ National Bank Limited and Kiwibank Limited and the Co-Managers were Craigs Investment Partners Limited and Forsyth Barr Limited.
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