Dividend reinvestment plan
Westpac’s Dividend Reinvestment Plan (DRP) allows eligible shareholders in Australia and New Zealand to reinvest dividends in additional Westpac ordinary shares. It’s a convenient way of increasing your holdings of Westpac shares, without incurring transaction cost
Key features of the DRP
- You will receive shares instead of a cash dividend.
- The number of shares will be determined based on the Market Price.
- Franking credits are still received on dividends reinvested under the DRP
- Shares issued or transferred to you under the DRP rank equally with existing shares from the date of issue or transfer.
- A dividend statement detailing your dividend, franking credits, any shares issued to you under the DRP along with the Market Price and any residual amount will be provided at the time of dividend payment.
- Any residual value is carried forward in your DRP account and added to your next dividend for the purposes of calculating future share entitlements.
Participation is flexible; you can apply the DRP to your total holdings or to a specific number of shares.
Participation is optional; you can join, vary your participation or withdraw from the DRP at any time, subject to adequate notice being given.
How do I participate in the DRP?
Online: Single share holdings less than $50,000 or portfolio holdings managed by Link less than $1,000,000 – register, amend or cancel your DRP participation via Link’s Investor Centre.
Complete and return a DRP form: Single share holdings greater than $50,000 or portfolio holdings managed by Link greater than $1,000,000 – complete the form and return it to Link at the address indicated.
- DRP elections must be completed by 5.00pm (AEST) on the business day after the record date for that dividend payment
- See our full for more information (updated 7 April 2014).
- See our DRP frequently asked questions
- Contact Link Market Services