BKI aims to generate an increasing income stream in the form of fully franked dividends, to the extent of available imputation tax credits, through long-term investment in a portfolio of assets that are also able to deliver long term capital growth to shareholders. All historical dividends paid have been fully franked.

As can be seen in the chart below, BKI has been able to increase Ordinary Dividends paid to shareholders through long term investing in good quality dividend paying companies. BKI has also distributed to shareholders 7 fully franked Special Dividends since listing.

BKI Dividends Paid to Shareholders

BKI Dividends Paid to Shareholders

 

Growing Income Stream

Dividends + Franking Credits received from a $10,000 investment in BKI at inception V’s Bank Quarterly Interest.

Highlights the opportunity of receiving a fully franked dividend in a falling interest rate environment.

Long Term Dividend Income

Long Term Dividend Income

Source: BKI, Bloomberg. An investor who spent the equivalent of $10,000 to purchase BKI shares upon listing in December 2003 would now be receiving fully franked dividends of $1,943pa. The franking credits enhance the income by a further $833, assuming a tax rate of 30% (total income of $2,776pa). The same investment in a term deposit (based on the cash rate + 0.50%) would be earning $357pa with no franking credits. Figures include reinvestment of dividends and cash, Ignores capital appreciation of BKI shares.

 

BKI – Dividend History & DRP Pricing
Ex-Dividend Date Special Dividend Per Share (cents) Franking (%) DRP Price * Pay/ Issue Date
10-Aug-04 2.00 100 N/A 31-Aug-04
16-Feb-05 2.10 100 $1.13 28-Feb-05
15-Aug-05 2.20 100 $1.15 31-Aug-05
22-Feb-06 2.50 100 $1.32 10-Mar-06
17-Aug-06 2.50 100 $1.29 31-Aug-06
17-Aug-06 S 1.00 100 $1.29 31-Aug-06
26-Feb-07 2.60 100 $1.36 16-Mar-07
17-Aug-07 2.70 100 $1.42 31-Aug-07
18-Feb-08 3.00 100 $1.23 7-Mar-08
18-Aug-08 3.00 100 $1.25 29-Aug-08
20-Feb-09 3.00 100 $0.80 12-Mar-09
17-Aug-09 3.00 100 $1.14 4-Sep-09
22-Feb-10 2.50 100 $1.24 12-Mar-10
22-Feb-10 S 0.50 100 $1.24 12-Mar-10
23-Aug-10 2.75 100 $1.16 10-Sep-10
23-Aug-10 S 0.50 100 $1.16 10-Sep-10
15-Feb-11 3.00 100 $1.24 7-Mar-11
11-Aug-11 3.00 100 $1.10 31-Aug-11
11-Aug-11 S 1.00 100 $1.10 31-Aug-11
24-Feb-12 3.20 100 $1.17 12-Mar-12
10-Aug-12 3.20 100 $1.23 30-Aug-12
12-Feb-13 3.25 100 $1.47 28-Feb-13
12-Feb-13 S 0.50 100 $1.47 28-Feb-13
13-Aug-13 3.40 100 $1.56 29-Aug-13
11-Feb-14 3.45 100 $1.61 27-Feb-14
12-Aug-14 3.50 100 $1.66 28-Aug-14
12-Feb-15 3.55 100 $1.75 26-Aug-15
05-Aug-15 3.65 100 $1.60 26-Aug-15
04-Feb-16 3.60 100 $1.59 26-Feb-16
05-Aug-16 3.65 100 $1.60 26-Aug-16
10-Feb-17 3.60 100 $1.64 27-Feb-17
04-Aug-17 3.70 100 $1.64 23-Aug-17
12-Feb-18 3.625 100 $1.68 28-Feb-18
10-Aug-18 3.70 100 $1.55 29-Aug-18
08-Feb-19 3.625 100 $1.52 28-Feb-19
08-Feb-19 S 1.50 100 $1.52 28-Feb-19
09-Aug-19 3.70 100 29-Aug-19
09-Aug-19 S 1.00 100 29-Aug-19
* Note that DRP was introduced on 16/12/2005
BKI – Pricing of Equity Raisings (excluding take-overs & DRP)
Nature of Equity Raising Issue Price Issue Date
Initial IPO $1.00 9-Dec-03
Share Purchase Plan $1.075 9-May-05
Share Purchase Plan $1.330 9-May-06
Rights Issue $1.350 4-May-07
Placement via Dixons $1.450 4-Sep-07
Share Purchase Plan $1.200 7-Apr-08
Share Purchase Plan $1.180 30-Sep-09
Share Purchase Plan $1.290 8-Nov-12
Institutional Placement $1.480 12-Sep-13
Rights Issue $1.480 24-Oct-13
Share Purchase Plan $1.655 8-Aug-14
Share Purchase Plan $1.550 06-May-16
Share Purchase Plan $1.580 22-Jun-17
Entitlement Offer $1.500 26-June-18