Important changes to Oil Search Limited’s dividend payment methods
Please note the following important changes to Oil Search Limited’s dividend payment methods:
For full details on the changes to Oil Search Limited’s dividend payment methods, please click here.
Due to legislative changes in Papua New Guinea, dividends paid by Oil Search Limited from 30 March 2017 are subject to dividend withholding tax (DWT) at the rate of 15%. Unless specifically exempt under the Income Tax laws of Papua New Guinea, dividends will have DWT deducted. If you believe your dividends should not be subject to DWT, please seek independent tax advice and contact the Papua New Guinea Internal Revenue Commission to request a refund.
The Dividend Reinvestment Plan (“DRP”) gives eligible shareholders the opportunity to reinvest some or all of their Oil Search eligible dividends in additional Oil Search shares, free of brokerage and transaction costs, as described fully in this booklet which contains a summary of the DRP and the DRP rules. The DRP is a convenient, easy and cost-effective way to build your shareholding in Oil Search by using your cash dividends to acquire additional Shares.
Participation in the DRP is voluntary. If you do not participate you will still receive your cash dividend. If you choose to participate, you may vary or cancel your participation in accordance with the DRP rules.
Currently, the operation of the DRP is suspended. However, you may still elect to participate in the DRP and your election will be recorded against your shareholding for future participation should the Oil Search Board choose to recommence the operation of the DRP.
Oil Search Dividend Reinvestment Plan Booklet