APA Group - Final Distribution Announcement for June 2024
APA (APA) Share Update August 2024 Tuesday 27th
APA Group Announces Final Distribution for June 2024
APA Group (ASX: APA) has announced its final distribution for the six months ending June 30, 2024, providing key tax components and payment details for investors.
Instant Summary:
- Total distribution rate: 29.5 cents per security.
- Ex Date: 27 June 2024.
- Record Date: 28 June 2024.
- Payable Date: 18 September 2024.
- Franked dividend: 7.0544 cents per security.
- Unfranked dividend: 21.4218 cents per security.
- Trust distribution comprising interest income: 0.9887 cents per security.
- Tax deferred income: 0.0351 cents per security.
Distribution Details
APA Group has declared its final distribution for the six months ending June 30, 2024. The total distribution rate is set at 29.5 cents per security, with the ex-date on June 27, 2024, and the record date on June 28, 2024. Investors can expect payments to be made on September 18, 2024.
The distribution is divided into several tax components. For APA Infrastructure Trust, the Australian sourced distributions include a franked dividend of 7.0544 cents per security and an unfranked dividend of 21.4218 cents per security. Additionally, APA Investment Trust includes a trust distribution comprising interest income of 0.9887 cents per security and tax-deferred income of 0.0351 cents per security.
Tax Implications
There is no foreign conduit income to be declared for this distribution period. APA Investment Trust is recognized as a managed investment trust for the purposes of Subdivision 12-H of the Taxation Administration Act 1953. The franking credit allocated for this period is 3.0233 cents per security.
It is important to note that there are differences in the measurement of tax profit for determining the tax components of the distribution for APA Investment Trust and the measurement of accounting profit for determining accounting distribution components within the financial statements of APA Investment Trust.
The announcement of the final distribution is likely to have a positive impact on APA Group's stock price as it reflects the company's stable financial performance and commitment to returning value to shareholders. The detailed breakdown of tax components provides clarity for investors, which may further bolster investor confidence.
Investor Reaction:
Analysts are expected to react positively to the announcement, noting the steady distribution rate and the clear communication of tax components. The absence of foreign conduit income and the allocation of franking credits are also likely to be viewed favorably by investors.
Conclusion:
Investors should take note of the key dates and tax components associated with the final distribution. This announcement underscores APA Group's strong financial position and commitment to delivering consistent returns to its shareholders. Investors are encouraged to stay informed and consider the potential long-term benefits of holding APA Group securities.