Mondi MNDI

Paper and packaging group Mondi was spun-off from miner Anglo American in July 2007. The group has two primary businesses - Packaging and Business Paper. Its Business paper division produces office paper while the Packaging arm creates and distributes packaging products, such as bags, to various industries.

Mondi Dividends:

Mondi intends to pursue a dividend policy that reflects its strategy of disciplined and value creating investment and growth with the aim of offering shareholders long-term dividend growth. The Group will target a dividend cover range of two to three times on average over the cycle, although the payout ratio in each year will vary in accordance with the business cycle. The payment of dividends will be conditional on the Group having sufficient distributable reserves. Ordinary dividends paid by Mondi plc will generally be paid in Euros and ordinary dividends paid by Mondi Limited will generally be paid in rand.

The directors intend that the final and interim dividends will generally be paid in May and September in the approximate proportions of two-thirds (final dividend) and one-third (interim)