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BRIEF-Tabcorp to pay A$45.0 mln in penalty as Federal court approves Austrac settlement

Published 16/03/2017, 05:21 pm
© Reuters.  BRIEF-Tabcorp to pay A$45.0 mln in penalty as Federal court approves Austrac settlement
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March 16 (Reuters) - Tabcorp Holdings Ltd TAH.AX

* Federal court approves Austrac settlement

* Federal court has approved that settlement, under which Tabcorp will pay a penalty of $45.0 million (plus Austrac's legal costs on an agreed basis)

* Tabcorp will recognise an expense in respect of penalty amount in its financial statements for year ending 30 june 2017

* This expense will be treated as a significant item

* FY17 dividend target remains greater of 90 pct of NPAT before significant items and amortisation of Victorian wagering and betting licence or 24 cents per share Source text for Eikon: ID:nASX9RH611 Further company coverage: TAH.AX

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