Montana 1:10 bonus issue

Press, 2 September 1981, Page 23

Montana 1:10 bonus issue

The directors of Montana Wines, Ltd, are recommending a bonus issue and an increased annual dividend rate to shareholders, in spite of a lower group net trading profit in the June 30 year. In a preliminary report the directors announced that the audited group net trading profit, ahead of extraordinary items, fell 9.1 per cent to $4,065,721.

Extraordinary items included currency exchange

losses totalling $293,608 ($81,750 previously). and $314,415 as the premium on the acquisition of subsidiaries, which was written off after the winding up of nontrading subsidiary companies, they said. A one-i°r-10 bonus issue is recommended to shareholders; it would not participate in the final dividend, and it was expected that the current annual dividend rate would be maintained on the

) increased capital, the direc--1 tors said. i The. pre-tax profit was . ahead 9.3 per cent to [ $4,888,721. The tax provision . totalled $823,000. compared . with no tax payable in the previous year. A recommended tax-free 5 final dividend of 5.75 c a share increases the annual rate from 8.75 c to 9.25 c a . share (18.5 per cent). The ; dividend is payable on ! November 6. ex dividend on ! October 16.