MSI plans dividend
PA . Auckland MSI Corporation. Ltd. may resume paying dividends for 1982-83 because it is expecting a “reasonable profit" the chairman. Mr Neil Walford, says in his annual report. "The company traded profitably in July and August (the first two months of its financial year). In a world which is in recession and given the recent difficulties of the company, we would prefer to avoid any forecast at all.
“However, knowing how great must be the concern of shareholders about the company’s prospects and the resumption of dividend, we wish to advise that our best judgment at this time is that the 1982-83 year will produce a reasonable profit, and that dividends will be resumed.” Mr Walford describes the row over the degree of protection in the Australian and N.Z. car components industry as a “quaint lapse of commonsense and pragmatism by those two small and lonely countries far away in the Pacific.”
He says that MSI would love to be a free trader able to buy on the cheapest market, but the company has to consider the people it employees and the need to keep them in New Zealand
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Press, 15 October 1982, Page 10
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192MSI plans dividend Press, 15 October 1982, Page 10
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