Dividend Information

 Share Statistics
 Financial Year Ending 31 December
 2006 2005
2004
2003
2002
 Return on Average Shareholder Funds  (%)  23 27
26
12
12
 Earning per share  ($)* 0.564****  0.674****
 0.406 0.154
0.148
 Effective tax rate  % 33  32
35
38
39

History of Dividends Declared
 Interim**  August  cps 10
10
10
6
10
   Dividend declared $'000's
 24,000 24,000
24,000
14,400
24,000
   Supplem-
entary
$'000's 666
637
652
382
642
   Imputation credits***  $'000's 11,155
11,184
11,169
6,710
11,178
               
 Final**  Febuary  cps 35
22.5
20
6
5
   Dividend declared $'000's
 84,000 54,000
48,000
14,400
12,000
   Supplem-
entary
$'000's  2,317 1,531
1,308
384
321
   Imputation credits*** $'000's
39,056
25,066
22,334
6,709
5,589
               
 Total  Dividends Declared  cps 45  32.5
30
12
15
    $'000's
108,000
78,000
72,000
28,800
36,000
   Supplem-
entary
$'000's
2,983
2,168
1,960
776
963
  Imputation credits***
$'000's 50,211
36,250
33,503
13,419 16,767

* In October 2005, there was a 10 for 1 share split. For purposes of comparison, the statistics for all years prior to 2005 have been adjusted as if the split applied in those years also. The assumption for each year is 240,000,000 shares of $0.10 value.

** Interim dividends are declared in August of each year for payment in September. Final dividends are declared in February following the end of the financial year, payable in March.

*** Imputation credits disclosed in this table are net of the supplementary dividend.

**** Earnings per share are based on NZ IFRS restated profit for the 2005 and 2006 financial years