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After being halted during the low energy prices in the mid 1990s, the DRP had been reintroduced in response to demand from shareholders generally, saidchairman Stephen Gerlach.
There would not be a discount to the current share price under the DRP, which was often the case to tempt shareholders to take the stock instead of drawing on the company’s cash reserves.
“The plan enables investors to increase their shareholdings in the company without brokerage,” a Santos statement said.
It said the board had adopted new rules for the recommenced DRP, to reflect changes to the law and practice since the DRP was last operative in 1995.
All relevant documentation, including a full copy of the revised rules would be sent to eligible shareholders shortly, according to Santos.
The DRP will apply to dividends commencing with the 2004 final dividend, payable on 31 March 2005.
