Dividends
Dividend policy
In April 2023, Kenmare’s dividend policy evolved to a targeted payout ratio of 20-40% of profit after tax, up from the original 20%. This revised dividend policy is based on a multi-year view of the Company’s performance and funding requirements, while maintaining conservative gearing.
The revised dividend policy is subject to (i) any exceptional or single year impact; (ii) market conditions, balance sheet position and capital requirements; and (iii) higher cash balances likely to be maintained until capital development projects completed.
Dividend history (USc/share)
Dividend timetable for 2025 interim dividend
| Ex-dividend date | 18 September 2025 |
| Record date | 19 September 2025 |
| Currency election date | 23 September 2025 |
| Payment date | 14 October 2025 |
Dividend currency exchange rates
The following table sets out the currency exchange rates applicable for Kenmare’s dividends over the past three years:
| Dividend | Declared dividend in USD | Euro (EUR) exchange rate | Dividend per share in EUR | Great British Pound (GBP) exchange rate | Dividend per share in GBP |
|---|---|---|---|---|---|
| 2025 Interim | $0.10 | $1 = €0.852079 | €0.0852079 | $1 = £0.7417 | £0.07417 |
| 2024 Final | $0.17 | $1 = €0.888731 | €0.151084 | $1 = £0.751597 | £0.127771 |
| 2024 Interim | $0.15 | $1 = €0.895576 | €0.134336 | $1 = £0.752955 | £0.112943 |
| 2023 Final | $0.175 | $1 = €0.938791 | €0.164288 | $1 = £0.804182 | £0.140731 |
| 2023 Interim | $0.4333 | $1 = €0.939232 | €0.406969 | $1 = £0.815328 | £0.353281 |
| 2022 Final | $0.1098 | $1 = €0.904404 | €0.099303 | $1 = £0.8036 | £0.088235 |
| 2022 Interim | $0.2542 | $1 = €1.02522 | €0.260610 | $1 = £0.917684 | £0.233275 |
Dividend Withholding Tax
Kenmare pays dividends to the shareholders on our shareholder register via the Company’s registrar, Computershare. As Kenmare is an Irish-resident company, Computershare is required to deduct 25% Dividend Withholding Tax (DWT) on all dividends paid, unless a shareholder is entitled to an exemption and has provided a validly completed copy of the appropriate exemption forms to Computershare by the dividend record date.
Many investors who are not resident in Ireland, along with certain Irish companies, trusts, pension schemes, investment undertakings and charities, may be exempt from DWT. If you are an institutional investor, here is the direct link to the Dividend Withholding Tax Exemption Form.
However, most private investors hold their interest in shares through a nominee account (with nominee account providers like Hargreaves Lansdown or Interactive Investor) so the dividend will be paid to the nominee account provider. Nominee account providers can apply for a DWT exemption, but as they typically hold shares in a pooled nominee account on behalf of numerous underlying beneficial holders (some of whom may be exempt and some who may not), they typically won’t offer this as a service.
However, in these circumstances, where DWT has been deducted, individual private investors may be able to apply for a refund of DWT. In order to do this, they need to obtain a dividend certificate from their nominee account provider and then apply to the Irish Revenue for a refund by completing the ‘DWT claim for refund’ form. Completion of this form may require obtaining a certificate of tax residency from the investor’s home tax authority.
Neither the Company nor its Registrars can give tax advice. If an investor is in any doubt about their tax position they should consult their own tax adviser.