2018 final dividend

Commonwealth Bank of Australia announced a final dividend of $2.31 per share for the second half of the financial year ended 30 June 2018.

Dividend per share
Record Date
Payment date
Australian franking level
NZ imputation credit per share (NZD)
DRP available
DRP discount
$2.31
16 Aug 18
28 Sep 18
Fully franked
$0.06
Yes
No

Dividend policy

What is CBA's dividend policy?

Commonwealth Bank of Australia will seek to:

  • pay cash dividends at strong and sustainable levels;
  • target a full-year payout ratio of 70% - 80%; and
  • maximise the use of its franking account by paying fully franked dividends
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Payment of dividends

When will my dividend be paid?

The Bank typically announces a dividend with the release of its half year results in February and full year results in August.  Dividends are typically paid twice a year, in March (interim dividend) and September (final dividend).  Payment dates are listed on the financial calendar

When is the Record Date and what does it mean?

The Record Date is the cut-off date for a dividend.  To be eligible to receive the current dividend, you need to be recorded on the share register at 5pm on the Record Date. The Record Dates are listed on the financial calendar.

When is the ex-dividend date and what does it mean?

The ex-dividend date occurs one day before the Record Date. To be entitled to receive the current dividend, you must purchase shares before the ex-dividend date. If you purchase shares on or after the ex-dividend date, you will not be entitled to receive the current dividend. The ex-dividend dates are listed on the financial calendar.

How will my dividend be paid?

Your dividend will be paid to you by direct credit and deposited into your nominated bank account. Payment by direct credit applies to all shareholders with a registered address in Australia, New Zealand or the United Kingdom (made in AUD, NZD and GBP respectively).

Dividend statements are available on the Link Market Services Investor Centre, and can be received via email or post.

To change your nominations, please log in to the Link Investor Centre or contact Link by email or phone.

How will my dividend be paid if I live overseas?

If your registered address is not in Australia, New Zealand or the United Kingdom you can choose to have your dividend:

  • posted to you by cheque, issued in AUD, or
  • paid via direct credit into a bank account in Australia, New Zealand or the United Kingdom (made in AUD, NZD and GBP respectively).

To update your preferences, please log in to the Link Investor Centre or contact Link by email or phone.

What happens if I have not provided my bank details?

If you do not provide your bank details by the Record Date and you are not a participant in the Dividend Reinvestment Plan, your dividend will be held on your behalf in a non-interest bearing account.  Payment of your dividend into your nominated bank account will be made as soon as possible after receipt of your payment instructions.

You are encouraged to keep your bank account details current.

To check or update your bank details, please log in to the Link Investor Centre or contact Link by email or phone.

What is franking/imputation?

Dividends paid to Australian shareholders by Australian resident companies are taxed under the imputation system, which means the tax paid by a company may be imputed or attributed to its shareholders.

The imputation system eliminates the double taxation of dividends for Australian shareholders.

What are franking/imputation credits?

Franked dividends have a franking credit attached to them which represents the amount of tax the company has already paid. Franking credits are also known as imputation credits.

Generally, Australian resident shareholders are entitled to receive a credit for any tax the company has paid. If your top tax rate is less than the company's tax rate, the Australian Tax Office will refund you the difference.

New Zealand imputation credits

An imputation credit is relevant for New Zealand resident taxpayers who meet certain requirements.

Dividend Reinvestment Plan

What is the Dividend Reinvestment Plan (DRP)?

The DRP allows eligible shareholders in Australia and New Zealand to reinvest all or part of their dividends to receive additional shares instead of a cash payment.  It is a convenient way to increase your holding of CBA shares, without incurring transaction costs.

Key features of the DRP are:

  • you will receive shares instead of a cash dividend
  • the number of shares you receive will be based on the Market Price (which is determined under the DRP Rules by reference to the price of CBA shares)
  • franking credits apply to dividends reinvested under the DRP
  • shares issued under the DRP will rank equally with other shares
  • any residual value is held for you in a DRP account and will be added to your next dividend to calculate any future share entitlements
  • participation is optional, and you can change your election at any time (the cut-off for the election to apply to a particular DRP is usually the day after the Record Date for that dividend)
  • participation is flexible, and you can choose to apply the DRP to all or part of your shareholding

More information can be found in the DRP Rules.

How do I participate in the DRP?

If you wish to participate in the Commonwealth Bank of Australia’s DRP or update your election - please log in to the Link Investor Centre or contact Link by email or phone.

What are the DRP rules?

You can download and print a copy of the rules below.

DRP rules (pdf)

Dividend history

Dividend history of Commonwealth Bank fully paid ordinary shares.

Half year ended
Dividend per share (AUD)
Payment date
Australian franking level
NZ imputation credit per share (NZD)
DRP price (AUD)
ASX announcement
31/12/2017
$2.00
28/03/2018
Fully franked
$0.07
$75.38
30/06/2017
$2.30
29/09/2017
Fully franked
$0.09
$75.73
31/12/2016
$1.99
4/04/2017
Fully franked
$0.09
$83.21
30/06/2016
$2.22
29/09/2016
Fully franked
$0.11
$72.95
31/12/2015
$1.98
31/03/2016
Fully franked
$0.09
$72.68
30/06/2015
$2.22
1/10/2015
Fully franked
$0.11
$74.75
31/12/2014
$1.98
2/04/2015
Fully franked
$0.09
$91.26
30/06/2014
$2.18
2/10/2014
Fully franked
$0.11
$80.39
31/12/2013
$1.83
3/04/2014
Fully franked
$0.09
$75.26
30/06/2013
$2.00
3/10/2013
Fully franked
$0.12
$73.42
31/12/2012
$1.64
5/04/2013
Fully franked
$0.08
$68.76
30/06/2012
$1.97
5/10/2012
Fully franked
$0.12
$54.54
31/12/2011
$1.37
5/04/2012
Fully franked
N/A
$48.81
30/06/2011
$1.88
6/10/2011
Fully franked
N/A
$47.48
31/12/2010
$1.32
1/04/2011
Fully franked
N/A
$52.92
30/06/2010
$1.70
1/10/2010
Fully franked
N/A
$51.75
31/12/2009
$1.20
1/04/2010
Fully franked
N/A
$53.56
30/06/2009
$1.15
1/10/2009
Fully franked
N/A
$44.48
31/12/2008
$1.13
23/03/2009
Fully franked
N/A
$28.45
30/06/2008
$1.53
1/10/2008
Fully franked
N/A
$42.41
-
31/12/2007
$1.13
2/04/2008
Fully franked
N/A
$39.44
-
30/06/2007
$1.49
5/10/2007
Fully franked
N/A
$54.8
-
31/12/2006
$1.07
5/04/2007
Fully franked
N/A
$50.02
-
30/06/2006
$1.30
5/10/2006
Fully franked
N/A
$45.24
-
31/12/2005
$0.94
5/04/2006
Fully franked
N/A
$43.89
-
30/06/2005
$1.12
23/09/2005
Fully franked
N/A
$37.19
-
31/12/2004
$0.85
31/03/2005
Fully franked
N/A
$35.9
-
30/06/2004
$1.04
24/09/2004
Fully franked
N/A
$30.14
-
31/12/2003
$0.79
30/03/2004
Fully franked
N/A
$31.61
-
30/06/2003
$0.85
8/10/2003
Fully franked
N/A
$28.03
-
31/12/2002
$0.69
28/03/2003
Fully franked
N/A
$24.75
-
30/06/2002
$0.82
8/10/2002
Fully franked
N/A
$31.92
-
31/12/2001
$0.68
28/03/2002
Fully franked
N/A
$31.96
-
30/06/2001
$0.75
8/10/2001
Fully franked
N/A
$28.79
-
31/12/2000
$0.61
30/03/2001
Fully franked
N/A
$30.82
-
30/06/2000
$0.72
9/10/2000
Fully franked
N/A
$27.31
-
31/12/1999
$0.58
31/03/2000
Fully franked
N/A
$24.42
-
30/06/1999
$0.66
30/09/1999
Fully franked
N/A
$24.75
-
31/12/1998
$0.49
26/03/1999
Fully franked
N/A
$24.5
-
30/06/1998
$0.58
30/09/1998
Fully franked
N/A
$18.79
-
31/12/1997
$0.46
27/03/1998
Fully franked
N/A
$18.06
-
30/06/1997
$0.57
30/09/1997
Fully franked
N/A
$14.55
-
31/12/1996
$0.45
27/03/1997
Fully franked
N/A
$12.51
-
30/06/1996
$0.52
30/09/1996
Fully franked
N/A
$10.64
-
31/12/1995
$0.38
1/04/1996
Fully franked
N/A
$9.96
-
30/06/1995
$0.46
25/10/1995
Fully franked
N/A
$9.86
-
31/12/1994
$0.36
28/04/1995
Fully franked
N/A
$8.92
-
30/06/1994
$0.36
26/10/1994
Fully franked
N/A
$6.93
-
31/12/1993
$0.24
29/04/1994
Fully franked
N/A
$7.81
-
30/06/1993
$0.22
27/10/1993
Fully franked
N/A
$8.86
-
31/12/1992
$0.20
30/04/1993
Fully franked
N/A
$7.56
-
30/06/1992
$0.20
30/10/1992
Fully franked
N/A
$5.62
-
31/12/1991
$0.20
30/04/1992
Fully franked
N/A
$6.64
-