The Dividend Donation Plan is an initiative of Westpac, launched in December 2012. It's a way for Westpac shareholders to donate from as little as 1% through to 100% of each of their Westpac ordinary share dividends to the Westpac Group Family of Giving.
For example, a shareholder may elect to donate just 5% of their dividend, which, based on a dividend of, say, 80 cents per share, and a holding of 1,000 shares, would represent a donation of $40 for that dividend.
For over 130 years Westpac Group has supported hundreds of charitable projects and causes through the Family of Giving, comprising the Westpac Foundation, St.George Foundation, BankSA & Staff Charitable Fund and the Bank of Melbourne Neighbourhood Fund.
Each of these charitable trusts supports the work of not-for-profit organisations across Australia, helping our communities to prosper and grow.
The Westpac Group Family of Giving is separate from the Westpac Group, but proudly supported by it.
The Westpac Foundation is a charitable trust supporting Australian based not-for-profit organisations with deductible gift recipient status (DGR) addressing key social issues at a grass roots level. Through its grants, the Foundation seeks to develop communities where the long-term unemployed, Indigenous Australians, refugees, the homeless, and individuals with a disability, feel engaged and included.
The Foundation also offers a wide range of non-financial support, including skilled volunteering, organisational mentoring, financial education and financial advice to its grant recipients.
The Foundation operates independently of the Westpac Group, with its work and decisions on grants entirely the responsibility of the Westpac Foundation board. For more information, please visit the Westpac Foundation.
The St.George Foundation helps build a secure future for disadvantaged children. Since 1990 the Foundation partnered with more than 700 community organisations across Australia to improve the lives of children who are physically, socially or economically disadvantaged.
The St.George Foundation funds programs run by the smaller charities who are truly close to the families they help, but attract little recurrent funding from government and aren’t big enough to generate significant fundraising income of their own. The Foundation has a long history of active fundraising, calling on the heart and power of the entire St.George Bank to help give disadvantaged kids a solid footing to make the most of their lives.
As well as funding projects, the Foundation provides practical, hands on support for its partner charities, working alongside them to help tackle the issues they identify as important to fulfilling their mission. For more information, please visit the St.George Foundation.
The BankSA & Staff Charitable Fund has a proud history of charitable and community support that began in 1941. The Fund gets behind projects that help communities in need in South Australia and the Northern Territory; helping to improve the lives of South Australians and Northern Territorians by partnering with small, local organisations who are the ones who know the needs of their community best.
The BankSA & Staff Charitable Fund has a deep and long-standing commitment to the local community and are part of the fabric of South Australia and the Northern Territory. It is an integral part of the BankSA culture for employees to support this fund via payroll giving, volunteering and financial assistance. For more information, please visit the BankSA & Staff Charitable Fund.
The Bank of Melbourne Neighbourhood Fund aims to create better connected, vibrant local Victorian communities both now and into the future.
Every community has its social challenges, and the people best placed to solve these challenges are the ones who live there. The Fund supports and invests in innovative ideas and community organisations; giving locals the means to solve community problems themselves by working with local organisations to support their cause.
The Fund will create enduring social impact in local Victorian communities by operating at a grass roots level, identifying and investing in innovative ideas and outstanding community organisations. For more information, please visit the Bank of Melbourne Neighbourhood Fund.
Westpac shareholders can donate a portion of their dividend to the Westpac Group Family of Giving by contacting the Westpac Share Registrar, Link Market Services Limited (Link), on 1800 804 255 (toll free within Australia) or on +61 1800 804 255 from outside Australia.
Link will explain how the Dividend Donation Plan is administered, with particular emphasis on how it operates if you are also a Participant in the Westpac Dividend Reinvestment Plan (DRP).
To be effective for the next dividend payment, your election must be completed by 5:00pm Australian Eastern Standard Time on the record date for the relevant dividend.
When you contact Link please have your holder number handy (there are two forms: an SRN, which normally starts with a capital “I” and denotes that the holding is Issuer sponsored; or a HIN, which normally starts with a capital “X” and denotes that the holding is Broker sponsored). If you are unable to locate your holder number, please ask Link to explain how you may obtain a replacement holding statement.
Donations made via the Family of Giving Dividend Donation Plan will be to the Westpac Community Trust (ABN 53 265 036 982) for the benefit of the projects supported by the Family of Giving.
The Family of Giving supports grass roots not-for-profit organisations seeking to address the many social issues facing Australians today. We support community led programs that promote social inclusion and strengthen communities.
Donations will be distributed by the Westpac Community Trust following recommendations from the Family of Giving.
Every dollar that is donated by Westpac shareholders goes to not-for-profit organisations supported by the Family of Giving.
If you have elected to participate in the Dividend Reinvestment Plan (DRP), then any Dividend Donation Plan election deduction from dividends will occur prior to any participation in the DRP.
Previously, if you chose not to take part in the Family of Giving Dividend Donation Plan, your St.George Foundation Dividend donation election simply continued to operate and directly support the St.George Foundation. However, Westpac has now ceased to offer the St.George Dividend Donation scheme. All participants within the scheme have been transferred to the Dividend Donation Plan. The St.George Foundation is supported through the Westpac Group Family of Giving and continue to receive an allocation of the donations made through the Dividend Donation Plan.
If your donation is over $2 you may be able to claim this amount as a tax deduction in your tax return.
The dividend statement constitutes a tax receipt.
Donations made via the Family of Giving Dividend Donation Plan will not affect available franking credits, which will be advised to you as normal on your dividend statement.
You can change your participation at any time, including varying the percentage to be donated and opting out of the Dividend Donation Plan.
You can do as follows:
Single holding less than $50,000 or portfolio holding managed by Westpac's Share Registrar, Link Market Services (Link), less than $1,000,000 - change your Dividend Donation Plan election online via Link's Investor Centre.
However, to be effective for the next dividend payment, your advice of the change must be completed by 5:00pm Australian Eastern Standard Time on the record date for the relevant dividend.
When you contact Link you will need to have your holder number handy (there are two forms: an SRN, which normally starts with a capital “I” and denotes that the holding is Issuer sponsored; or a HIN, which normally starts with a capital “X” and denotes that the holding is Broker sponsored). If you are unable to locate your holder number, please ask Link to explain how you may obtain a replacement holding statement.