L1 Long Short Fund Adjusts Dividend Reinvestment Plan Price and NZD Payment Rate
The L1 Long Short Fund Limited (ASX:LSF) has made adjustments to its Dividend Reinvestment Plan (DRP) price and New Zealand dollar equivalent payment rate for its quarterly ordinary dividend. The revised DRP price is AUD 4.89000 per security, calculated using a 5-day volume-weighted average price (VWAP) from September 1st to 7th. This change affects the DRP price in section 4A.6 and updates the New Zealand dollar equivalent payment amount along with the applicable exchange rate.
The ordinary dividend is AUD 0.03800000 per security, fully franked at 100% with a 30% corporate tax rate. The updated NZD equivalent payment per security is NZD 0.04650000, based on an exchange rate of 1.2225. Dividend payments and DRP securities issue are scheduled for September 23rd.
Shareholders who opt into the DRP will receive their dividend in the form of additional shares, while those who do not participate will receive cash payments by default. Eligibility to participate is limited to shareholders with registered addresses in Australia or New Zealand.