Cooks doubles dividend
The directors of Cooks New Zealand Wine Company, Ltd, have recommended doubling the annual dividend from 6c a share to 12c a share (12 per cent), and also recommended splitting the ordinary 100 c shares into 50c units.
Group net profit rose 51.4 per cent to $702,385 in the year to June 30, on sales 55.5 per cent higher at $4,668,043. No tax is payable.
The result is in excess of the $560,000 profit the directors forecast in February when a take-over attempt by Rothmans Industries, Ltd, was made. The dividend, of which 5c a share is tax-free, will he payable on October 8, ex dividend on September 19. The shares resulting from the conversion of debentures rank for 25 per cent of the annual dividend rate of 12c a share.
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Press, 30 August 1979, Page 18
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134Cooks doubles dividend Press, 30 August 1979, Page 18
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