Diamond stocks building up
NZPA Johannesburg The world's largest diamond producer. De Beers Consolidated Mines, halved the interim dividend for this year yesterday in a move reflecting depressed diamond ■'sales. Last year, the company cut its final dividend for the first time by half to about 30 (N.Z.) cents. Yesterday’s cut reduced the interim dividend to 15c. In a statement. De Beers said diamond stocks held by the Central Selling Organisation, the body through which it controls the marketing of diamonds, were expected to rise about SNZ4IO million this year to about $NZ2.332 billion. (De Beers maintains world prices by stockpiling diamonds at the C. 5.0.) The strong rise in the gold price in the last week surprised stock-market analysts in Johannesburg and they said it would help the company’s share price. De Beers reported midyear taxed profits of S3OSM compared'with S3ISM in the first half of 1981.
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Press, 28 August 1982, Page 18
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148Diamond stocks building up Press, 28 August 1982, Page 18
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