Kiwi likely to raise div.

Press, 16 July 1979, Page 12

Kiwi likely to raise div.

NZPA Melbourne Shareholders in Kiwi International, Ltd, look like receiving an increased dividend this year, the directors intimated in a letter to shareholders of F.H. Faulding and Company, Ltd, advocating acceptance of Kiwi’s takeover offer.

Kiwi’s profit for the full year to August 31 is expected to be about $4.5M, compared with $3.7M last year — an increase of 21 per cent, the directors say.

“The board of Kiwi International will be considering their dividend policy in October when the final figures for the year are known,” the letter said.

In the year to August,

1978, Kiwi paid a total of 8c (16 per cent) up 2c a share on the previous year. Kiwi announced it had extended the offer for ordinary shares in F. H. Faulding tO; November 9, the offer for 6 per cent preference shares to November 7, and the 5 per cent preference shares to! November 8. It also declared the offers unconditional. The extensions would assist former shareholders in Rocke Tompsitt and Company, Ltd, who may have been disadvantaged by section 26A of the Income Tax. Assessment Act if they accepted the Kiwi offer before the end of one year from the time they were allotted their Faulding ordinary stocks, the directors said.