Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Southern Cross Electrical Engineering Confirms AU$4.8699 DRP Price for 7.5 Cent Fully Franked Dividend
Highlights
Southern Cross Electrical Engineering Ltd (ASX: SXE) lodged an updated dividend notice with the ASX on 1 October 2026. The update fills in two details left open in its original August 2026 notification: the price at which shares will be issued under the DRP, and the exchange rate for dividends paid in New Zealand dollars.
Dividend Amount and Franking
The ordinary dividend is unchanged at AU$0.075 per share and covers the six months ended 30 June 2026. It is 100% franked at the 30% corporate tax rate, so there is no unfranked or conduit foreign income component.
Key Dates for Shareholders
The shares went ex-dividend on 22 September 2026, with the record date falling a day later on 23 September 2026. Payment is scheduled for 7 October 2026, which is also the day new shares will be issued to DRP participants.
DRP Price Set at AU$4.8699
The reinvestment price of AU$4.8699 was calculated using the volume weighted average market price over five trading days, starting the trading day after the record date. That pricing window ran from 24 September to 30 September 2026. No discount was applied.
Shares issued under the plan will be new shares and will rank equally with existing ordinary shares from the issue date. There is no minimum or maximum participation limit, although only shareholders with a registered address in Australia or New Zealand are eligible. Holders who did not lodge an election by 24 September 2026 will receive cash by default.
Exchange Rate for New Zealand Holders
For shareholders with a registered address in New Zealand, the default is payment in NZD by direct credit to a nominated New Zealand bank account. These payments are being converted at a rate of 1.225719, which works out to roughly NZ$0.0919 per share. New Zealand holders who nominated an Australian bank account will instead be paid in AUD, as will all other shareholders.
Share Price Snapshot
SXE shares last traded at AU$5.250, up AU$0.400 or 8.247% on the day. At that level, the confirmed DRP price sits below the last traded price.
What It Means
With the DRP price and exchange rate now confirmed as actual figures rather than estimates, every outstanding variable for this dividend has been settled ahead of the 7 October 2026 payment date. Shareholders taking cash now know exactly what they will receive in either AUD or NZD, while those who chose to reinvest can work out how many new shares their AU$0.075 per share entitlement will convert into at the AU$4.8699 issue price.
Note- All data presented is based on information available at the time of writing.
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