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Distributions

Distribution History


Period Distribution Per Unit (Singapore Cents)
FY 2018 19 July 2017 to 31 March 2018 3.24
FY 2019 1 April 2018 to 30 September 2018 2.44

Distribution Policy

NetLink NBN Trust's distribution policy is to distribute 100% of its cash available for distribution ("CAFD").

Distributions by the Trust will be made on a semi-annual basis, with the amount calculated as at 31 March and 30 September, each year for the 6-month period ending on each of the said dates.

The Trustee-Manager will pay the distributions no later than 90 days after the end of each distribution period. The Trust's first distribution, for the period from the Listing Date to 31 March 2018, was paid as a distribution in cash to the Trust's unitholders ("Unitholders") on 8 June 2018.

CAFD

Any proposed distributions by the Trust will be paid from CAFD and available cash as determined by the Trustee-Manager. CAFD is a non-SFRS financial measure and represents cash flows from distributions received by the Trust from NetLink Trust ("NLT"), principal and interest payments (net of applicable taxes and expenses) received by the Trust from NLT pursuant to the NLT Notes1, and any other cash received by the Trust from NLT, after such cash flows have been applied to:

NLT's Distributable Income

In addition to interest payments on the NLT Notes, NLT will pay cash distributions to the Trust from NLT's Distributable Income, being NLT's consolidated profit before tax for that distribution period adjusted for:

NLT distribution policy is to distribute at least 90% of its Distributable Income to the Trust.

  1. "NLT Notes" refer to the $1.1 billion in principal amount of subordinated notes due 2037 issued by NLT to the Trust, which are qualifying project debt securities (QPDS).
  2. Singapore NBN Trust is the trust constituted by a deed of trust dated 21 February 2017 pursuant to which all the shares in the Trustee-Manager are held by the trustee of Singapore NBN Trust on trust for the benefit of the Unitholders from time to time.
  3. "Capex Reserve Requirement" is the requirement for NLT to set aside monies into a capital expenditure reserve fund amounting to an aggregate of S$40 million over the five-year period from 2018 to 2022, to meet regulatory requirements from IMDA or for any new network infrastructure projects that improve the capacity, technology, capability or resilience of NLT's network infrastructure.
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