N.Z. News bonus issue
PA Auckland The directors of N.Z. News, Ltd. have announced their intention to make a one-for-five bonus issue of shares to all shareholders on April 2. Books will close at 5 p.m. on that day and re-open at 9 a.m. on April 4, and certificates for the bonus shares will be distributed by midApril. The bonus shares will qualify for the final diviaend for the year ending March 31, 1984. At the same time, the directors said that, as forecast in the half-yearly report, profit for this financial year would fall below the record level of 1983. The directors have advised that they expect, in the absence of unforeseen circumstances, to maintain the dividend at the rate for the last financial year on the increased capital of the company. In announcing the bonus issue, the directors expressed their satisfaction at the progress so far made in restructuring the “Auckland Star.”
Mr D. L. Steven, the chairman of N.Z. News, said: “The partial recovery of previously unrecoverable costs and other changes effected since the half-yearly report are materially assisting this particular publication.”
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Press, 9 March 1984, Page 11
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185N.Z. News bonus issue Press, 9 March 1984, Page 11
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