ClearView Wealth Announces Fully Franked AUD 0.05 Special Dividend Pending Zurich Acquisition Completion

Details of Special Dividend and Franking Status

ClearView Wealth has announced a special dividend of AUD 0.05 per fully paid ordinary share, payable in Australian dollars. This dividend is fully franked at 100%, reflecting franking credits calculated at the 30% corporate tax rate. Shareholders will receive the full benefit of these franking credits, with a franked amount of AUD 0.05000000 per security and no unfranked or conduit foreign income components.

The special dividend represents a return of capital to shareholders aligned with the proposed acquisition transaction. By declaring the dividend prior to the scheme completion, ClearView is distributing funds ahead of transferring all CVW shares to Zurich Financial Services Australia Limited. The ex-dividend date is 4 August 2026, with the record date on 5 August 2026, enabling the company to identify eligible shareholders before the payment date.

Acquisition Scheme Conditions and Approval Timeline

The payment of the special dividend is explicitly conditional on the members' scheme of arrangement between ClearView Wealth and Zurich Financial Services Australia Limited becoming Effective. This acquisition scheme was initially announced to the ASX on 24 February 2026 and detailed in the Scheme Booklet released on 23 June 2026. For the scheme to become Effective, court orders approving the scheme must be lodged with the Australian Securities and Investments Commission (ASIC), anticipated on 31 July 2026.

Key milestones include the Scheme Meeting where ClearView shareholders will vote on 27 July 2026. The scheme requires approval by the requisite shareholder majorities to proceed. Subsequently, the Second Court Hearing is scheduled for 30 July 2026 to obtain court approval. These dates depend on the satisfaction or waiver of all remaining conditions precedent. Upon approvals and ASIC lodgement, the scheme will become Effective, triggering the special dividend payment on 12 August 2026.

Dividend Payment Schedule and Ex-Dividend Date

The dividend timetable is coordinated with the acquisition process. The ex-dividend date is 4 August 2026, requiring investors to hold shares before this date to qualify for the dividend. The record date is 5 August 2026, when shareholder entitlement is determined. Payment will be made on 12 August 2026, allowing ClearView sufficient time to process shareholder records and complete payment administration.

This timing follows the expected completion of acquisition approvals, with shareholder and court approvals anticipated in late July 2026 and ASIC lodgement on 31 July 2026. The ex-dividend date immediately follows the scheme becoming Effective, ensuring lawful declaration and payment of the special dividend. Shareholders recorded on 5 August 2026 will receive the dividend regardless of subsequent shareholdings.

Overview of ClearView Wealth and Market Position

ClearView Wealth Limited (ASX:CVW) is an Australian financial services company operating in wealth management and financial advisory. Registered under ABN 83 106 248 248, ClearView is listed on the Australian Securities Exchange with ordinary fully paid shares available to investors. The proposed acquisition by Zurich Financial Services Australia Limited is a significant corporate event impacting all ClearView shareholders.

This announcement does not disclose specific financial metrics such as revenue or profits. However, the declaration of the special dividend indicates sufficient retained earnings and distributable capital to support the AUD 0.05 per share payment. Declaring a special dividend ahead of acquisition completion aligns with standard practice in scheme transactions to optimise shareholder outcomes and facilitate capital transition.

Exclusion from Dividend Reinvestment Plan

While ClearView Wealth maintains a Dividend Reinvestment Plan (DRP) for eligible shareholders, this special dividend is excluded from the DRP. Shareholders will receive the AUD 0.05 per share dividend as a cash payment on 12 August 2026, with no option to reinvest in additional shares.

This exclusion is typical in acquisition scenarios, as the scheme will cancel all CVW shares and replace them with Zurich consideration. Cash payment simplifies administration and avoids complexities of issuing shares immediately before the scheme implementation.

Franking Credits and Tax Implications for Shareholders

The special dividend’s full franking at 100% provides Australian resident shareholders with franking credits based on a 30% corporate tax rate. These credits can offset personal tax liabilities, though the value depends on individual tax circumstances and marginal rates.

Full franking indicates ClearView Wealth has sufficient corporate tax paid to support the distribution, consistent with profitable operations. Tax treatment varies among investors, including superannuation funds and other entities, affecting effective dividend yields.

Context and Timeline of Zurich Acquisition

The special dividend is part of the broader acquisition of ClearView Wealth by Zurich Financial Services Australia Limited, announced on 24 February 2026. The members’ scheme of arrangement proposes acquisition of all CVW shares by Zurich, with shareholders receiving acquisition consideration and ceasing to hold CVW shares. Details are outlined in the Scheme Booklet dated 23 June 2026, available on ClearView’s media website.

The timing of the special dividend reflects a coordinated capital management strategy aligned with the acquisition process. Payment is conditional on scheme effectiveness, requiring shareholder approval on 27 July 2026, court approval on 30 July 2026, and ASIC lodgement on 31 July 2026. This ensures dividend payment only occurs if the transaction completes.

Regulatory Approvals and Conditions Precedent

The special dividend depends on multiple regulatory approvals. Shareholder approval is scheduled for 27 July 2026, court approval for 30 July 2026, and ASIC lodgement for 31 July 2026. These dates are estimates and subject to satisfaction or waiver of all conditions precedent.

The scheme requires requisite shareholder majorities and court approval. As of the announcement date (24 July 2026), the company has not confirmed satisfaction of all conditions. Full details are available in Section 6.3 of the Scheme Booklet and the concurrent update titled "Proposed acquisition of ClearView by Zurich – determination to pay Special Dividend." Investors should consult these documents for comprehensive information.

Dividend Currency and Shareholder Considerations

The special dividend will be paid in Australian dollars (AUD) at AUD 0.05 per ordinary fully paid share. ClearView has no special currency arrangements; all shareholders will receive payments in AUD. International investors may incur currency conversion costs and exchange rate risks.

Paying in AUD simplifies administration and is standard for ASX-listed companies. Shareholders should consider timing and currency implications for tax and cash flow based on their individual circumstances.

Information Sources and Guidance for Shareholders

ClearView directs shareholders to further information sources including a company update dated 24 July 2026 titled "Proposed acquisition of ClearView by Zurich – determination to pay Special Dividend" and Section 6.3 of the Scheme Booklet dated 23 June 2026, both accessible via ClearView’s media website.

Shareholders are encouraged to review these documents for full understanding of the acquisition, special dividend conditions, and voting procedures for the 27 July 2026 Scheme Meeting. Those uncertain about their decisions or the special dividend’s implications should seek professional financial or legal advice before the meeting.