Which of the following statements is not true about drp?

• (a) The Board may from time to time invite Shareholders to participate in the DRP.

  Table of Contents Show

  • NAB’s 2022 Interim Dividend will be 73 cents per ordinary share, franked to 100% at the company tax rate of 30%, payable on 5 July 2022.
  • Australian shareholders
  • Shareholders outside Australia
  • Important information

  (b) Participation in the DRP is subject to these Rules.

  (c) Participation in the DRP by Eligible Shareholders:

  (1) is optional and voluntary;

  (2) is not transferable; and

  (3) may be varied or terminated at any time in accordance with rule 14. 

  (d) Subject to rules 3(e) to 3(g), an Eligible Shareholder is, in respect of a particular Dividend Record Date, a person who, at that Dividend Record Date, was recorded in CBA’s share register as a registered holder of at least the Minimum Participating Holding (if any). To avoid doubt, a person who is not a registered holder of shares is not an Eligible Shareholder even if such person holds a beneficial interest in shares.

  (e) Notwithstanding rule 3(d), unless the Board otherwise determines, the following persons will not be Eligible Shareholders:

  (1) any entity or person who is (or who is acting on behalf of or for the account or benefit of an entity or person who is) in or resident in the United States of America, its possessions or territories, or whose address on CBA’s share register is in any of those places;

  (2) any entity or person who is connected (whether by location, residency, registered address or otherwise) with any other jurisdiction (other than Australia) in a manner which in the opinion of the Board may make unlawful or impracticable the offer, issue, transfer or acquisition of Shares to or by the entity or person.  

  Determinations by the Board for the purposes of this rule 3(e) (and in particular sub‐rule (2) above) may be made in respect of classes of Shareholder in its discretion, and a determination that participation is impracticable may be made if participation (or investigation of the lawfulness or practicability of participation) would in the Board’s view require compliance with conditions that would be unacceptable, unduly onerous or involve administrative complexity.  

  (f) The Board is entitled to make a final determination as to whether or not any particular Shareholder is an Eligible Shareholder for the purposes of these Rules, and to change any such determination, as and when it sees fit. In making this determination, the Board may consider, among other things, whether such participation would or may be impracticable, impossible or illegal and any actual or anticipated inconvenience or expense in allowing, or investigating the possibility of allowing, such participation.  

  (g) The Board has the discretion to refuse to accept any person’s Shares for participation in the DRP and to suspend or withdraw any person’s Shares from participation (including declining to Allocate, issue or transfer or reducing the Allocation, issue or transfer of Shares under the DRP to a Participant) if the Board considers that the participation of those Shares might:

  (1) breach any law including the Foreign Acquisitions and Takeovers Act 1975 (Cth), the Listing Rules or the Constitution; or

  (2) prejudice the effective operation of the DRP; or 

  (3) be undesirable or impractical.

  (h) It is the responsibility of each Shareholder to confirm their eligibility to participate in the DRP and to obtain any necessary approvals to enable that Shareholder to participate in the DRP. In administering the DRP, CBA and the Board may rely on representations or warranties by Shareholders as to matters affecting their eligibility to participate. Before electing to participate in the DRP, Shareholders who are not resident in Australia should seek professional advice to ascertain if any restrictions apply.

NAB’s 2022 Interim Dividend will be 73 cents per ordinary share, franked to 100% at the company tax rate of 30%, payable on 5 July 2022.

You will automatically receive your dividends in cash unless you have given notice that you wish to participate in the Dividend Reinvestment Plan.

Australian shareholders

As previously announced, dividends paid in cash will be received by direct credit for shareholders with a registered address in Australia.

Shareholders who do not nominate a valid bank account, cash dividends will be held in a non-interest bearing special purpose account until a valid bank account has been received by the Share Registry.

Shareholders outside Australia

Shareholders in countries (other than Australia) will be paid cash dividends by direct credit into a nominated bank account in AUD, GBP, NZD and USD (as applicable).

The conversion rates for direct credit in each of the respective currencies was set at the prevailing market rate on 16 May 2022 at 4.00pm (AEST).

For those shareholders outside Australia who have not provided valid bank account details, the cash dividend will default to AUD cheque.

Shareholders who wish to change or vary the way they receive dividends, must notify the Share Registry by 12 May 2022 in one of the following ways;

• online by visiting www.investorcentre.com/au
• email your request to
• contact NAB's Share Registry on 1300 367 647 (Australia) or +61 3 9415 4299 (outside Australia)
• by mail addressed to NAB Share Registry, GPO Box 2333, Melbourne VIC 3001 Australia.

The following settings will be applied to the DRP for the 2022 Interim Dividend:

• The last election date for the DRP was 5.00pm (AEST) on 13 May 2022.
• No discount was applied when determining the “Current Market Price”.
• The “Pricing Period” was a period of 10 trading days, commencing on 18 May 2022 and concluding on 31 May 2022 (inclusive).
• The “Current Market Price” was calculated by reference to the volume weighted average price of NAB ordinary shares which are sold on the ASX and Cboe Australia (formerly Chi-X) over the Pricing Period.
  
• There will be no limit on the number of shares that may participate in the DRP.
• The DRP is expected to be fully neutralised through the on-market purchase of shares.

United States shareholders are not able to participate in the DRP (including where shares are held in a broker’s clearing account, or by a trustee or nominee).

Participation is voluntary and you can join the DRP, vary your participation or withdraw from it at any time.

The Bonus Share Plan (BSP) was closed to new participants on 10 May 2007.

The following settings will be applied to existing participants in the BSP for the 2022 Interim Dividend:

• The last date to withdraw or vary participation for the BSP was 5.00pm (AEST) on 13 May 2022.
• No discount was applied in determining the “Current Market Price”.
• The “Pricing Period” was a period of 10 trading days, commencing on 18 May 2022 and concluding on 31 May 2022 (inclusive).
• The “Current Market Price” was calculated by reference to the volume weighted average price of NAB ordinary shares which are sold on the ASX and Cboe Australia (formerly Chi-X) over the Pricing Period.
• There will be no limit on the number of shares that may participate in the BSP.

United States shareholders are not able to participate in the BSP (including where shares are held in a broker’s clearing account, or by a trustee or nominee).

• Detailed tax information about dividends (Cash Dividend, DRP, and BSP)

Important information

The information on this page does not constitute financial or taxation advice. Shareholders should choose the method by which their dividends are paid with careful regard to their individual circumstances. Shareholders uncertain as to which dividend option is best for them are strongly advised to consult their own financial, taxation and/or legal advisers.