Australian gaming machine group Aristocrat Leisure Limited has announced that its upcoming FY24 final dividend is expected to be unfranked, reflecting the company’s robust growth outside of Australia.

The full-year results for the period ending 30th September 2024 will be reported on 13th November 2024.

The company’s prior statements had already indicated that future dividends might not be fully franked, and today’s update confirms this trend. The determination of the FY24 final dividend remains subject to Board approval.

In addition to its dividend strategy, Aristocrat is committed to disciplined capital allocation aimed at maximizing shareholder returns. A key component of this strategy includes on-market share buybacks.

In a filing sent to the Australian Stock Exchange on Thursday, the company noted that since launching its buyback program it has successfully repurchased 40.2 million shares at an average price of AU$39.56 ($26.5) per share, totaling approximately AU$1.6 billion ($1.1 billion).

https://agbrief.com/news/australia/18/10/2024/aristocrat-flags-unfranked-dividend-due-to-growth-in-business/