Key shareholder information

NAB’s 2023 Interim Dividend will be 83 cents per ordinary share, franked to 100% at the company tax rate of 30%, payable on 5 July 2023.

Cash Dividends

Cash Dividends

You will automatically receive your dividends in cash unless you have given notice that you wish to participate in the Dividend Reinvestment Plan.

Dividends paid in cash will be received by direct credit into a nominated bank account in AUD, GBP, NZD and USD (as applicable).

The conversion rates for direct credit in each of the respective currencies, applicable for the 2023 final dividend, were set at the prevailing market rate on 17 November 2023 at 4.00pm (AEDT).

Exchange Conversion Rate
AUD / GBP 0.5214
AUD / NZD 1.0857
AUD / USD 0.6470

For all shareholders who do not nominate a valid bank account, their cash dividends will be held in a non-interest bearing special purpose account until a valid bank account nomination has been received by the Share Registry. From 5 October 2023, AUD cheques will no longer be issued to shareholders who do not nominate a valid bank account to receive cash dividends.

Dividend Reinvestment Plan (DRP) and Bonus Share Plan (BSP)

National Australia Bank Limited’s (NAB) Dividend Reinvestment Plan (DRP) and Bonus Share Plan (BSP) (together, the Plans) allow eligible NAB shareholders to reinvest all or part of any dividend paid on their fully paid ordinary shares (Shares) in additional Shares (New Shares) instead of receiving the dividend in cash.

Participation in the Plans by eligible NAB shareholders is entirely optional. The BSP has been closed to new participants since 10 May 2007.

The Plans are administered in accordance with the Plan Rules dated 5 October 2023 and in compliance with Australian law. It is important that you read the Plan Rules carefully before deciding whether to participate in the DRP or BSP. Read the National Australia Bank DRP and BSP Terms and Conditions.

When NAB announces a dividend, information on the dividend, including the price per New Share for the purposes of the Plans, will be set out in a Notification of Dividend/Distribution that NAB lodges with the ASX.

The Plan Rules, the Notification of Dividend/Distribution for a dividend and this notice are collectively referred to as the “Plan Documents”. The Plan Documents do not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, the Plans are not available to persons in, and the New Shares may not be offered or sold in, any country outside Australia except to the extent permitted below. NAB shareholders outside Australia who do not have a registered address in a permitted jurisdiction listed below are not eligible to participate in the Plans.

Permitted jurisdictions:

France

The Plan Documents have not been, and will not be, registered with or approved by any securities regulator in France or elsewhere in the European Union. Accordingly, the Plan Documents may not be made available, nor may the New Shares be offered for sale, in France except in circumstances that do not require a prospectus under Article 1(4) of Regulation (EU) 2017/1129 of the European Parliament and the Council of the European Union (the Prospectus Regulation).

In accordance with Article 1(4)(h) of the Prospectus Regulation, an offer of New Shares in France is limited to existing shareholders of NAB.

Hong Kong

WARNING: The contents of the Plan Documents have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution in relation to the offer. If you are in any doubt about any of the contents of the Plan Documents, you should obtain independent professional advice.

Ireland

The Plan Documents have not been, and will not be, registered with or approved by any securities regulator in Ireland or elsewhere in the European Union. Accordingly, the Plan Documents may not be made available, nor may the Shares be offered for sale, in Ireland except in circumstances that do not require a prospectus under Article 1(4) of the Prospectus Regulation.

In accordance with Article 1(4)(h) of the Prospectus Regulation, an offer of Shares in Ireland is limited to existing shareholders of NAB.

Japan

The New Shares have not been, and will not be, registered under Article 4, paragraph 1 of the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948), as amended. Accordingly, the Plan Documents will not be distributed in Japan and the New Shares may not be offered or sold in Japan. The New Shares will only be offered and sold outside Japan.

Malaysia

No approval from, or recognition by, the Securities Commission of Malaysia has been or will be obtained in relation to the offer of New Shares. The New Shares under the Plans may not be offered, sold or issued in Malaysia except to existing shareholders of NAB.

New Zealand

The New Shares are not being offered or sold to the public within New Zealand other than to existing shareholders of NAB with registered addresses in New Zealand to whom the offer of the New Shares is being made in reliance on the Financial Markets Conduct (Incidental Offers) Exemption Notice 2021.

The Plan Documents have not been registered, filed with or approved by any New Zealand regulatory authority. The Plan Documents are not a product disclosure statement under New Zealand law and are not required to, and may not, contain all the information that a product disclosure statement under New Zealand law is required to contain.

Singapore

The Plan Documents have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, the Plan Documents and any other materials relating to the offer or sale, or invitation for subscription or purchase, of New Shares may not be issued, circulated or distributed, nor may the New Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore except (i) to existing members of NAB pursuant to Section 273(1)(cd) of the Securities and Futures Act 2001 of Singapore (SFA) or (ii) pursuant to and in accordance with exemptions in Subdivision (4) Division 1, Part 13 of the SFA or any other applicable provision of the SFA.

The Plan Documents have been made available to you on the basis that you are an existing holder of Shares. If you are not such a shareholder, please discard the Plan Documents. You may not forward or circulate the Plan Documents to any other person in Singapore.

Any offer is not made to you with a view to the New Shares being subsequently offered for sale to any other party. There are on-sale restrictions in Singapore that may be applicable to investors who acquire New Shares. As such, investors are advised to acquaint themselves with the SFA provisions relating to resale restrictions in Singapore and comply accordingly.

United Kingdom

Neither the information in the Plan Documents nor any other document relating to the Plans has been delivered for approval to the Financial Conduct Authority (FCA) in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended (FSMA)) has been published or is intended to be published in respect of the New Shares.

The Plans are only available to existing shareholders of NAB and the New Shares may not be offered or sold in the United Kingdom except in circumstances that do not require the publication of a prospectus pursuant to section 86(1) FSMA. The offer of New Shares falls within an exemption set out in Article 1(4)(h) of the UK Prospectus Regulation on the basis that it relates to dividends paid out to existing shareholders in the form of shares of the same class as the shares in respect of which such dividends are paid, provided that a document is made available containing information on the number and nature of the shares and the reasons for and details of the offer.

The Plan Documents should not be distributed, published or reproduced, in whole or in part, nor may its contents be disclosed by recipients to any other person in the United Kingdom.

Any invitation or inducement to engage in investment activity (within the meaning of section 21 FSMA) received in connection with the issue or sale of the New Shares has only been communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances in which section 21(1) FSMA does not apply to NAB.

In the United Kingdom, the Plan Documents are being made available only to, and is directed at, persons (i) who fall within Article 43 (members of certain bodies corporate) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (SI 2005/1529), or (ii) to whom it may otherwise be lawfully communicated (together relevant persons). The investment to which the Plan Documents relates is available only to relevant persons. Any person who is not a relevant person should not act or rely on the Plan Documents.

Update your dividend instructions

Shareholders who wish to change or vary the way they receive dividends, must notify the Share Registry in one of the following ways;

Dividend reinvestment plan (DRP) settings

The following settings applied to the DRP for the 2023 Final Dividend:

  • The last election date for the DRP was 5.00pm (AEDT) on 16 November 2023.
  • No discount was applied when determining the “Current Market Price”.
  • The “Pricing Period” was a period of 12 trading days, commencing on 21 November 2023 and concluding on 6 December 2023 (inclusive).
  • The “Current Market Price” was calculated by reference to the volume weighted average price of NAB ordinary shares which are sold on the ASX and Cboe Australia (formerly Chi-X) over the Pricing Period.
  • The DRP "Participation Limit" was 5 million NAB ordinary shares per participant, meaning eligible shareholders could elect that up to 5 million NAB ordinary shares to participate in the DRP.
  • The DRP was fully neutralised through the on-market purchase of shares.

NAB shareholders outside of Australia who do not have a registered address in a permitted jurisdiction are not eligible to participate in the DRP. The permitted jurisdictions outside Australia eligible for participation in the DRP are: France, Hong Kong, Ireland, Japan, Malaysia, New Zealand, Singapore and the United Kingdom.

Participation is voluntary and you can join the DRP, vary your participation or withdraw from it at any time.

Bonus Share Plan (BSP) settings

The Bonus Share Plan (BSP) was closed to new participants on 10 May 2007.

The following settings applied to existing participants in the BSP for the 2023 Final Dividend:

  • The last date to withdraw or vary participation for the BSP was 5.00pm (AEDT) on 16 November 2023.
  • No discount was applied in determining the “Current Market Price”.
  • The “Pricing Period” was a period of 12 trading days, commencing on 21 November 2023 and concluding on 6 December 2023 (inclusive).
  • The “Current Market Price” was calculated by reference to the volume weighted average price of NAB ordinary shares which are sold on the ASX and Cboe Australia (formerly Chi-X) over the Pricing Period.
  • There will be no limit on the number of shares that may participate in the BSP.

NAB shareholders outside of Australia who do not have a registered address in a permitted jurisdiction are not eligible to participate in the DRP. The permitted jurisdictions outside Australia eligible for participation in the DRP are: France, Hong Kong, Ireland, Japan, Malaysia, New Zealand, Singapore and the United Kingdom.

Dividend payment history

Tax information

Important information