Dividends

The Board have determined that it does not anticipate the payment of dividends for the foreseeable future. The Directors are of the view that the dividend policy remains appropriate for the Group considering its current financial position, strategy and prospects and the continuing uncertainties faced. These uncertainties include ongoing litigation, the U.S. government’s allegations and the need to establish more diverse revenue streams in light of generic entry into the market.

Historical dividend payments

As set out in the prospectus, issued for the demerger in November 2014, the Company confirmed that it would pay out 40% of net income as a dividend, payable in US$ for the 2015 financial year. Details of these payments is set out below.

First and Second Interim Dividend Payments
First interim dividend Date
Ex-dividend date September 17, 2015
Record date September 18, 2015
Payment date October 23, 2015
Second interim dividend Date
Ex-dividend date June 16, 2016
Record date June 17, 2016
Payment date July 29, 2016

 

Future Dividend Policy

The Board, as indicated in the prospectus for the demerger in November 2014, has considered future dividend policy in the light of the Company’s current financial position, strategy and prospects.  Given the uncertainties facing the Company, including generic challenges to the intellectual property of Suboxone® film, the level of gross debt together with the associated covenants and the need to seek to diversify the sources of revenue and cash-flow, the Company does not expect to pay ordinary dividends for the foreseeable future.