HPI distributes 100% of Distributable Earnings each Financial Year subject to ensuring HPI maintains sufficient liquidity to fund forecast working capital and capital expenditure requirements.
HPI intends to pay Distributions on a half yearly basis with distribution periods ending, 30 June and 31 December each year.
Key Event Dates for HY24
Ex-Entitlement Date Thursday, 28 December 2023
Record Date Friday, 29 December 2023
Half-Year Results Announcement Thursday, 15 February 2024
Issue of Tax Components of Distribution Thursday, 15 February 2024
Distribution Payment Date Friday, 1 March 2024
Distribution Reinvestment Plan
In May 2023 HPI reintroduced a Distribution Reinvestment Plan. To participate in the DRP (in whole or in part) or to change DRP preferences, securityholders should read the DRP Plan Rules and update their preferences online at Link Market Services or complete the form below.
December 2023 Update:
In accordance with Listing Rule 10.8, HPI has determined that the DRP will be suspended and will not operate in respect of this distribution. The DRP will remain suspended until further notice. While the DRP is suspended, participants in the DRP will receive cash distributions. Securityholders should review and, if necessary, update their bank account details with the Security Registrar. No action is required by Securityholders in relation to the DRP. Should the suspension of the DRP be lifted in the future, Rule 9.4 of the DRP Rules will apply and each Securityholder’s existing DRP status will be reinstated and will continue to apply until a new valid DRP Application or Cancellation is lodged.
What is the distribution reinvestment plan?
Under the Plan, you may elect to have distributions made on some or all of your HPI Stapled Securities
automatically reinvested in additional HPI Stapled Securities.
Can I participate?
You are eligible to participate in the Plan if your address on the HPI security register is in Australia or New Zealand.
How do I participate?
You may elect to participate by completing an Application Form, specifying whether you wish to participate in full or in part, and returning the Application Form to the Security Registrar.
Link to form: https://www.hpitrust.com.au/wp-content/uploads/2021/11/HPI-DRP-variation-form.pdf
If you elect to participate in full in the Plan, then all Stapled Securities held by you at the relevant Record Date for the relevant distribution will be treated as participating in the Plan. If you choose partial participation, only the specific number of Stapled Securities nominated will participate in the Plan.
Do I have to participate?
No, participation is entirely optional.
Is there a discount?
The Administrators will determine for each distribution whether or not a discount will be applied to the Plan. The discount, if any, will be announced to ASX at the time the relevant distribution is announced to ASX.
Will these Stapled Securities be the same as my existing Stapled Securities?
Yes, Stapled Securities allotted or transferred under the Plan rank equally in all respects with existing Stapled Securities from the date of allotment.
What will the Subscription Price be?
Stapled Securities will be allotted or transferred at the daily volume weighted average market price of all HPI Stapled Securities traded on the ASX during the first 20 Trading Days on and from the first date the Stapled Securities trade on the ASX on an ex-entitlement basis in respect of the relevant Distribution, less any applicable discount.
How many Stapled Securities will I receive?
The number of Stapled Securities to be allotted or transferred to each DRP Participant depends on the value of the distribution declared. The exact number of Stapled Securities will be the value of the distribution entitlement divided by the Subscription Price, rounded down to the nearest whole number of Stapled Securities.
Will I have to pay anything to participate in the DRP?
No brokerage or other transaction/administration costs are payable by DRP Participants on Stapled Securities allotted.
When can I find additional information?
Additional information, including the DRP Rules can be obtained from the investor centre on the HPI website:
View additional information