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Are Amcor dividends franked and to what extent?

Amcor intends that its dividends will be franked to the extent that credits can be made available. An increasing proportion of Amcor’s earnings is being earned outside Australia, and, as a consequence, franking capacity is small. The dividends since 2006/07 have nil franking.

Are health and safety considerations factored into new capital investments/technology selection?

Yes. This is included in planning and approval processes. HSE issues have to be adequately addressed prior to approval being given.

Are management processes in place to track, report and reduce non-compliance with health and safety legislation, regulation and permits?

Yes. This is via six monthly reporting to the Board Audit and Compliance Committee and annual internal auditing and external auditing every three years.

Are there programs for facilitating staff safety and welfare outside the workplace?

Yes. We provide a Shiftworker’s Guidebook for staff. We often run internal programs focussing on safety and welfare issues to raise awareness in our employees and their families. Many sites have general employee welfare programs that include medical support, massages/physiotherapy and counselling services.

Considering that many of Amcor’s businesses are offshore, what sort of impact does this have on operations being managed from a head office so far away in Australia?

Global activities and economies naturally affect everyone, However the main focus of our product range is food and beverage markets and, in conjunction with our global diversity, we have some protection from the vagaries of the modern world. We also have strong regional management teams in place in each of our business units that develop their own strategies and practices. We believe that people who live locally have the best understanding of conducting business and forming strategies for their particular region and marketplace. However, at all times, this is within the disciplined general framework of the Amcor group, which sets strict financial criteria and administers a common set of values and standards throughout all its global businesses.

Did the outbreak of SARS or the Bird Flu have any effect on Amcor and if any similar outbreaks happen in the future, what would be their impact on Amcor?

These outbreaks have had no direct effect on Amcor, apart from those relating to travel arrangements of personnel. Of course, it did impact on the global economy overall, and particularly on the economy of the Asian region. Due to the diversity of our products and global spread, however, Amcor was better placed than many to minimise the overall impact on our profitability. As far as the wellbeing of our staff, we provide regular bulletins to all our people and revise our advice on action to be taken, almost on a daily basis, as any outbreaks progress. We make sure that we frequently check and follow the advice being provided by the World Health Organisation and other reputable Government agencies.

Do your sites maintain register of hazards and risks, including risk mitigation information?


Does Amcor actively engage with all stakeholders in an unbiased manner in order to obtain opinions on the company’s performance?

Yes. Amcor is interested in all aspects of its image, both internally and externally and understands that input from stakeholders is a necessary part of managing our business. Examples of this are:
  • Regularly surveying employees
  • Consulting local communities in which we operate
  • Building relationships with Non-Government Organisations
  • Conducting surveys on Social and Environmental issues with customers, key government agencies and middle to senior management.

Does Amcor endorse a non-discrimination policy and have systems and procedures in place to support this?

Yes. This is fully documented in Amcor’s policies and standards. Amcor also provides for the following:
  • Clear senior responsibility for policy implementation
  • Flexible working hours
  • Job sharing
  • Career breaks

Does Amcor have a policy to respect all ILO core labour standards globally?

Amcor respects the rights of all individuals and this is reflected in all our standards and policies, having regard to the OECD Guidelines for Multinational Enterprises. Our Corporate Code of Conduct and Ethics Policy covers human rights, amongst other things. In respect of Human Rights it covers:
  • Mutual respect
  • Discrimination
  • Forced labour
  • Child labour
  • Compensation
  • Benefits
  • Freedom from harassment

Does Amcor have an Environment Policy?

Yes. Amcor’s Environment Policy applies to 100% of Amcor’s operations and Amcor is a signatory to the National Packaging Covenant in Australia.

Does Amcor produce a report on its social and environmental activities?

Yes, the annual Amcor Sustainability Report is available for download from this website. The sustainability section of this website also provides extensive information. Contact Email:

Does the company have a corporate-wide Health and Safety Management System in place?

Yes. Amcor’s is based on AS4801; Safety MAP; and Amcor’s own company owned and developed system.

Does the Company have a corporate-wide health and safety policy covering all sites (including international operations)?

Yes. Amcor’s most important asset is its people. Eliminating injuries is an absolute commitment for Amcor. In achieving this, reducing the amount of time lost through injury has a direct impact no the financial bottom line too. Amcor introduced its “No Injuries” policy in 1997 which has resulted in a massive drop in Lost Time Injuries. The *LTIFR was 15.1 in 1997 and has been slashed dramatically to low single digit LTIFR in the years since through sustained focus on Amcor's "No Injuiries" policy. Amcor releases annuate LTIFR results in the annual Amcor Sustainability Report. (LTIFR is the number of full work days lost through injuries per million hours worked.) Please also refer to our Health and Safety Policies which are in the Corporate Governance section. Contact Email:

Does the company seek specialist external advice on issues affecting health and safety?

Yes. Advice is sought as required.

Does your company have a documented method for addressing health and safety performance of sub-contractors’ work and activities?

Yes. All subcontractors are considered as employees and are required to abide by the company’s safety policies and procedures.

Has the Company published a code of ethics or ethical policy setting out its values and governing the conduct of its employees?

Yes. The current Code of Ethics Policy and related information is available in this website in the Corporate Governance section and a copy of the revised policy recently completed is being translated into 19 languages in order that every Amcor employee is able to receive a copy in his or her native language.

Have health and safety objectives and targets been established?

Yes. Core objectives and targets are set which include reduction of LTIFR and RCFR each year. All sites much meet at least 95% compliance with Amcor’s safety standards. There are processes in place to review and revise these objectives and targets. How can shareholders be confident that the company’s audit process is independent and truly reflects the position of the company? The rules relating to audit independence are complex and, at times, difficult to administer in a company with global operations. Amcor's auditors are fully aware of their obligations to meet both Australian auditing standards (established by the accounting profession with an overlay of corporate legal requirements) and the new global standards being introduced. Amcor, through the Audit and Compliance Committee of the Board, has established a set of policies and procedures for ensuring that any non-audit services provided by the Auditors are vetted for compliance with the new standards.

How many employees does Amcor have?

Amcor has approximately 27000 employees globally. Contact Email:

I am interested in buying some of your products, how do I do this?

Obviously we are happy to grow our business and new customers are always welcome. Our customers are what our business is all about. However, Amcor does not sell direct to the public under normal circumstances and most of our customers are large manufacturers of products which have very specific packaging requirements. If you are interested in a customer alliance with an Amcor business, then please contact us and we will direct your enquiry. If you are an individual or smaller retailer interested in the type of products we supply but are unsure about whether you can buy product from us, we will still do our best to assist you.

I have an airconditioning/air filtration unit that is labelled with the name Amcor. Can you help me with more information, servicing or repairs?

No, unfortunately we cannot. It would appear that there are some products available (mostly in the USA) of this nature which carry a similar name to ours. However, these are not and have never been manufactured by Amcor Limited and we suggest that you contact the original retailer or try this link

I have heard a rumour that reusing PET bottles is dangerous. Is this true?

No, definitely not. There was an email circulating some time ago which was completely untrue. The only danger in reusing PET bottles would relate to unsafe practices regarding the new contents which are put into the container.

Is there a risk that Amcor has grown too quickly offshore? How is this managed?

Part of the answer lies in continuing to be very disciplined in evaluating overseas investment opportunities - ensuring that they fit with Amcor’s strategy and meet Amcor’s return criteria. Any potential investment opportunity must be consistent with Amcor’s strategy of investing in specific market segments that offer higher than average industry growth, the ability to create value-added products and services that differentiate Amcor in the marketplace, and the ability to obtain leading market positions. Amcor invests significant resources in pre-acquisition planning to ensure that the justification for any acquisition is soundly based and the local management team has a sensible plan for meeting the performance expectations and realising synergy benefits. Amcor has developed a number of key building blocks that underpin the organisational structure and decision making process. These are strong regional management, product leadership, strict financial criteria and common values across the group.

The Business Council of Australia has developed a “Code of Conduct” for AGMs. What is Amcor’s attitude to the Code?

Amcor is aware of the Code and has embraced it since the 2003 AGM. Amcor will continue to consider its position with respect to those matters on which it has yet to form an opinion.

What Environmental management systems does the company have in place?

Our approach to Enviromental Management and our performance is described in our annual Sustainability Report. Contact Email:

We live in a changed world. What steps or special actions has Amcor taken to safeguard against terrorist attacks, especially considering that some of our plants are located in areas that some would consider of risk.

Amcor’s management has considered this and believes that current levels of security are sufficient to protect our interests. Currently, we have no major, high profile sites in locations where we would consider them to be at a level of risk requiring special security arrangements. We have also reviewed the locations of all our plants and none are located on sites that put them as high risk, such as near an embassy or other place of high profile that would increase their level of risk. We also put the safety of our people first and have excellent health and safety procedures in place. There are also crisis management programs in place that are regularly reviewed and upgraded and we also practice regular evacuation procedures at all our sites.

What is Amcor doing about other aspects of environmental impact and recycling?

Our approach to Sustainability, Responsible Packging and our environmental performance are detailed in the Sustainability section of this website. Contact Email:

What is Amcor doing in order to be considered a good corporate citizen in relation to our environment?

This part of Corporate Citizenship is extremely important to Amcor. This important matter is covered extensively in this website and in other reports which we release from time to time. Please see the Sustainability section of this website for more infomration. Contact Email:

What is Amcor’s Australian Business Number?

ABN 62 000 017 372 Contact Email:

What is Amcor’s position on equal opportunity in the workplace?

Amcor follows a policy of non discrimination in the workplace. Our people are our most valuable asset and we consider that we provide excellent opportunities for all our people. Please refer to Careers section for further details. Contact Email:

What is Amcor’s position on political donations?

Amcor’s Board holds the view that stable government within Australia is clearly in the interests of all shareholders and that stable government depends upon maintaining the financial soundness of the country’s major political parties. The level of donations by the company simply reflects the financial resources respectively available to those parties.

What is Amcor’s position regarding Joint Ventures?

Amcor’s preference is for 100% ownership of operations managed by Amcor. However, Amcor is willing to invest in joint ventures provided its joint venture partners bear a proportionate share of the risk and have an ability to add value. In some of the markets that Amcor operates in overseas, there are foreign investment requirements that preclude Amcor from owning 100%.

What is the Board doing to ensure that ethical standards and levels of corporate governance practices are being maintained?

To assist in the execution of the Board's corporate governance responsibilities the Board has established four committees.
  1. Executive Committee

    Deals with matters referred to it by the Board or with urgent matters requiring attention between Board meetings.

  2. Audit and Compliance Committee

    Provides a link between the Board and external and internal auditors.

    Reviews financial statements and reports to the Board prior to publication.

    Reports to the Board on accounting systems, internal controls and audit performance.

    Reviews the compliance monitoring and reporting regime which covers

    • environment
    • safety and health
    • asset protection
    • trade practices
    • discrimination and harassment
    • conflict of interest
    • ethical standards and
    • privacy
  3. Human Resource Committee

    Advises the Board on remuneration policies and practices and makes specific recommendations on the remuneration packages and development programs and policies applicable to non-executive directors, the Managing Director and senior management.

  4. Nomination Committee

    Responsible for recommending to the Board new nominees for membership of the Board. This committee is also responsible for instituting processes to monitor and report on Board performance.

In addition, a Superannuation Committee has been established to address the problem of deficits in various defined benefit pension funds acount ehe Amcor Group.

Where and when was Amcor Limited incorporated?

Amcor Limited was incorporated on 27 November 1926 in New South Wales, Australia.

Where can I find copies of Press Releases?

These can be obtained from the Media Centre section of this website or made available in hard copy by contacting Investor Relations.

Where can I find out more about Amcor’s history?

Please see History. A book entitled The Spreading Tree by E.K. Sinclair was published in 1991 by Allen & Unwin. This publication contains information as far back as the late 19th Century and covers the company’s progress until the late 1980s.

Where can I get information about Amcor’s philanthropic activities?

This informaiton is contained in Amcor's Annual Sustainability Report. This report is available to view or download from our sustainability website, or can be provided upon request by contacting Investor Relations. Contact Email:

Where can I obtain employment information at Amcor?

Details can be found in the Careers section of this website. Contact Email:

Where can I obtain further information about the different types of packaging made by Amcor?

Please see the Products and Services section of this website for information on specific Amcor products and services. Contact Email:

Who is Amcor’s CEO?

Mr Ken MacKenzie is Amcor's Managing Director and CEO. He took up this position on 1 July 2005. Prior to this he held other senior roles within the Amcor Group. Please see Senior Management Profiles.

Why is there currently no overseas representation on the Amcor Board?

The make up of the Board is an important issue for Amcor. The current Board has an excellent mix of skills across a wide range of industries with all Board members making significant contributions. Importantly, three of our Board members have excellent experience in managing organisations that have considerable operations outside of Australia and have excellent knowledge of a number of different countries. The Board naturally continues to monitor the situation in an ongoing manner. Please also see Board of Directors.

Is Amcor keeping up with new technology to ensure it takes advantage of new product and market opportunities?

Amcor has established a Global IT Steering Committee chaired by the Executive General Manager, Operations to oversee the development and implementation of strategic IT initiatives within the group. In-line with Amcor’s general approach of identifying synergies between the divisions, IT will formulate a strategy to leverage the best of what is already installed and where new technologies are required, implement a standards-based approach that can be effectively leveraged across the group. The IT divisions will continue to work closely with the businesses and where IT resources have been outsourced, with our major global technology partners (eg HP ), to identify innovative solutions that support our business strategy.

Does the company make provisions for regular audits of health and safety performance?

Yes. The audits cover legal compliance, technical issues and systems. Amcor health and safety performance is reported in the annual Amcor Sustainability Report.

Can I obtain information about Amcor’s individual operating businesses?

Detailed information relating to subsidiaries and their operations can be obtained from perusing the various financial documents which are regularly filed by the company. These include the Full Year and Half Year Results and the Annual Financial Report. Anything more detailed than this is not publicly available. Legal requirements regarding disclosure mean that it is only possible to provide individuals with information that is available publicly.
Contact Email:

Can I request Financial Reports to be sent to me by email?

Yes, it is possible to be added to an electronic database to receive any of our reports via electronic means. You can subscribe by contacting Investor Relations.

Does Amcor have a Dividend Reinvestment Plan (DRP)?

Yes, currently it does. Information on the Amcor’s DRP can be obtained from the appropriate section of the Shareholder Services section of this website or from the Share Registry. The DRP booklet can be downloaded from this website or copies can be requested by contacting Amcor by email, telephone or fax. Directors anticipate the continued operation of Amcor’s dividend reinvestment plan for the foreseeable future.

Does Amcor have a hedging program?

In relation to transactional foreign currency exposures, Amcor’s policy is to hedge all net forecast or actual foreign currency exposures greater than A$500,000 equivalent. The gains or costs on entering the hedge and the exchange difference up to the date of the purchase or sale are deferred and recognised as assets or liabilities on the Balance Sheet from the inception of the hedge contract, not when the specific purchase or sale occurs. At maturity, the costs and gains are included in the measurement of the underlying transaction.
With regard to balance sheet exposures, Amcor’s approach is to analyse the foreign currency denominated assets and hedge them with an appropriate mix of borrowings in relevant currencies to manage and optimise the exposure of the Group’s net assets. All material foreign currency liabilities are hedged or matched by equivalent assets in the same currencies, such assets representing a natural hedge.
In relation to translational exposures, no hedging is undertaken. Amcor has a global spread of operations and exposure to a number of major economies around the world. Part of this exposure is to movements in local currencies compared to the $A, which is reflected in the translation of local business results into the $A equivalent results of the global group. Importantly, however, these do not reflect cash or economic exposure to Amcor.
Contact Email:

Does Amcor pay a dividend on its shares?

Yes, historically Amcor has had a policy of paying dividends to its shareholders. Dividends are normally paid in March/April and September/October. Please see the Dividends section of this website for further details of Amcor’s dividend history.

Does Amcor use derivatives?

Yes, however, Amcor does not at any time use derivatives for speculative or trading purposes. Amcor only uses derivatives such as interest rate and currency swaps to hedge underlying financial or commercial transactions. Details are provided in the Annual Report each year.

Given Amcor’s presence in many different countries/tax jurisdictions, what is the Group doing to manage its tax risks?

We have in place an extensive Tax Risk Management Program, that is designed to identify where the Group may have an exposure, and have in place sufficient internal controls to manage and mitigate these risks as much as possible to ensure compliance with all taxation requirements.

How can I obtain information about Amcor’s most recent financial results?

Please see the Investor Information section of this website. Hard copies can be obtained by contacting Investor Relations. Alternatively, copies of our financial results can also be obtained from other standard sources such as the ASX, Bloomberg, Reuters and, for information prior to June 2007, the US Securities and Exchange Commission website.

Contact Email:

How do I change my details if I am a shareholder?

This must be done by Amcor’s Share Registry. It is possible to do this over the Internet in most instances using facilities included in the Shareholder Services section.

How does Amcor see its potential for growth and where will this come from?

Amcor does not believe in growth for growth’s sake. However, we believe there are areas in which we can make incremental steps which will see the group continue to grow. We believe that we can continue to grow our market share of the packaging market, not just by logical acquisitions that fit well with our core business units from time to time, but also by offering our customers dependable on-time service, superior quality and partnerships built on excellence. We also strive to remain ahead of our competitors by continually challenging current practices, being innovative and creative and having the ability to offer our customers a range of packaging products to meet their changing needs and those of the end user. This means that we can increase Amcor’s portion of the packaging sector and maintain good profit margins by providing a superior product.

How does Amcor treat Goodwill on acquisitions in its financial accounts?

The company determines the value of goodwill, which is ordinarily the difference between consideration paid and the fair values of assets acquired and capitalises this as a non-current asset in the accounts. Goodwill is allocated to the cash generating units to which it belongs and is tested at least annually for impairment.

How does Amcor value its Employee Shares and Options?

The fair values of Amcor’s employee share options and incentive shares are calculated using the Black Scholes option-pricing model and is determined by various factors, including the option’s grant price, lifespan, share price volatility and dividend yield.

How many shareholders does Amcor have?

On 30 June 2011, Amcor had 70,161 shareholders.

Contact Email:

If I am thinking of buying Amcor shares, who can I ask for information about this?

Amcor is happy to provide any publicly available information to prospective shareholders. This can be obtained by contacting us and requesting copies or through the extensive amount of information contained in this website. Amcor cannot, however, provide any advice or guidance. Amcor will counsel anyone thinking of investing in the stockmarket to seek professional investment advice from a licensed advisor.

Is Amcor committed to overseas expansion?

Amcor’s vision is to build a company that is a global leader in the packaging industry delivering high returns and consistent earnings growth for shareholders. Any acquisitions, regardless of location are made only if they fit strict financial and strategic criteria.
The strategies behind Amcor’s growth objectives have remained unchanged since early 1998. Amcor’s focus is on those market segments with greatest volume growth, product differentiation and higher value added. Furthermore, a specific element of the strategy is to build a company that can deliver consistent earnings growth and not be dependent on the vagaries of one economy or business segment.
Today, Amcor achieves 80% of its sales to the non-cyclical food and beverage industries and has a broad geographic spread with around 217 plants in 34 countries. This ensures that the company has substantial resilience to difficult economic conditions.
An additional advantage of building a geographically diverse packaging company is the opportunity to develop global relationships with Amcor’s key customers that are underpinned by the ability to deliver consistent quality and service around the world.

What affects Amcor’s share price and can the Company advise me on what the share price might do in the future?

It is not possible to predict the future and it is therefore not feasible for any company to try to predict what its share price might do in the future.
There are a number of factors that drive share prices such as perceptions of the sharemarket as a whole and economic conditions that are beyond Amcor management’s control.
However, approximately 85% of Amcor’s sales are generated in the defensive market segments of food, beverage, healthcare and tobacco packaging which helps us to be resilient in difficult economic conditions.
To the extent that share prices are a function of profitability, we anticipate that the company will continue to exhibit good earnings over the medium term.
The company’s long term success is determined by factors including:

  • Amcor’s strong financial position and management team;
  • its clearly defined strategy; and
  • the strength of Amcor’s well established businesses around the world

What are Amcor’s Credit Ratings?

Please see Amcor’s Credit Ratings.

What are Amcor’s plans and strategies for the future?

In a broad sense our strategy is quite clear: We aim to be a global leader in the packaging industry in our chosen market sectors. We have deliberately chosen segments of the packaging market which we believe offer higher than industry-average growth, the ability to add value in the converting stage and the opportunity of building either a strong global position or leading regional presence. This strategy has seen us expand our operations overseas when opportunities arise to acquire businesses that will complement our business structure. See Strategy and Objectives page for more information.

What does Amcor expect its effective tax rate to be moving forward?

Amcor operates in over 40 countries with corporate tax rates varying between 10% and 40%. As a result, the effective tax rate for the Amcor group is driven by the mix of profits around the group, the countries that profit is derived in and the relativity of the local corporate tax rates. It is inherently difficult to be definitive on expected future tax rates due to one off permanent items, tax initiatives and incentives and occasional tax re-assessment in various jurisdictions. For the year ended 30 June 2012, Amcor's effective tax rate (excluding significant items) is expected to be in line with 2011.

Contact Email:

What exchanges do Amcor securities trade on?

Amcor shares are traded on the Australian Securities Exchange (ASX). All shares are recorded on the principal share register of Amcor Limited, located in Victoria, Australia. Amcor shares were traded in the form of American Depositary Shares (ADSs) evidenced by American Depositary Receipts (ADRs) on the NASDAQ Stock Market in the US until 14 June 2007. Amcor ADRs can be traded in the US Over-The-Counter market (ref code AMCRY). Each ADS traded represents four Amcor ordinary shares. Information about ADRs is available from the depositary, JPMorgan Chase Bank. Notes issued under Amcor's €2,000,000,000 Euro Medium Term Note Program are listed on the Singapore Stock Exchange. Contact Email: What is Amcor’s dividend policy? The Board of Directors makes the final decision on dividend declarations, but our aim is to have operating cash flow after capital expenditure equal to or greater than the total funds paid out as dividends.


What is Amcor’s ticker symbol?

Ordinary shares on the ASX « AMC »
ADRs on the US Over-The-Counter Market « AMCRY »

Contact Email:

What is Conduit Foreign Income?

Conduit Foreign Income indicates the extent that Amcor's earnings are derived outside of Australia. The extent of CFI affects the amount of Australian withholding tax paid on dividends to non-Australian shareholders. What were Amcor’s Earnings per Share (EPS) last year?

Please see the Amcor at a Glance page on this website.

Contact Email:

When does Amcor announce its results?

Please see the Investor Calendar and Reports, Presentations and Webcasts on this website.

When has Amcor had stock splits, rights issues and other events which would have affected my initial shareholding?

We have provided a Investment Calculator in the Investor Centre that will enable you to calculate the current value of your Amcor shares.

When is Amcor’s next General Meeting of Shareholders?

Please refer to the investor calendar.

Contact Email:

Where can I find historical information about Amcor’s financial results?

Please see the Investor Information section of this website. Where can I find public speeches or presentations made by Amcor executives? Depending on when these were given and by whom, they are mostly available in Investor Briefings but some are also in the Annual General Meeting section.

Where can I get information on key financial dates such as results, dividends and such?

These are provided in the Investor Calendar on this website. Who are the members of Amcor’s Board of Directors? Please also see the Amcor’s Board of Directors page.

Who can assist me with share enquiries if I hold Amcor shares and am not located in Australia?

Holders of Amcor shares who are located overseas should still contact the share registry, Link Market Services, located in Melbourne, Australia. Please see Shareholder Services section.

Contact Email:

Who is Amcor’s Independent Auditor?

Amcor’s external auditor is PricewaterhouseCoopers.

Will significant items continue to be included in Amcor’s results?

In accordance with current financial reporting standards, significant items are now included in the Company’s operating result and will continue to be disclosed separately by way of note.

With recent expansion overseas, does Amcor plan to move its global headquarters offshore?

At this stage, the answer is no. Firstly, we have a very decentralised organisation with local managers having responsibility for their region. This means that Americans run our operations in America, Europeans in Europe, Asians in Asia, etc. With this type of management approach, the location of head office is not as critical compared to a structure that is more centrally managed. Secondly, although our earnings are increasingly being derived offshore, more than 70% of our shares are still owned in Australia and well over 95% of shareholders, by number, are Australian. The Board and management will always continue to evaluate alternatives but, at this stage, we have no plans to move offshore.

With regard to the Paperlinx demerger in 2000, what were the terms of the share allocations?

The terms of shares allocation were 1 Paperlinx (PPX) share for every 3 Amcor (AMC) shares. The Paperlinx shares were valued at $3.66 so the capital reduction of each Amcor share was one third of this – or $1.22. Shareholders therefore deduct $1.22 off the price they paid for Amcor’s shares pre the demerger.