UPP plans 1:5 bonus
A one-for-five bonus issue has been proposed by the directors of United Publishing and Printing Company, Ltd, the Rotorua-based newspaper publisher, and the shares arising from the issue will participate in the recommended final dividend of 9c a share. In addition, a tax-free interim dividend of 6c a share has been declared by the directors for the year to March 31, payable on May 21, ex dividend on May 15. The company secretary, Mr R. W. Lane, said yesterday that the company had continued to pay its interim dividend at this time after
the company had altered its balance date from August 31 to March 31 about 10 years ago. In the first year after changing the balance date the company continued to declare its interim dividend at this time because it had suited some of the large shareholders and this practice had continued he said. The recommended final dividend of 9c a share increases the annual rate from 12c to 15c a share (30 per cent). Last year, UPP announced its final result in late July, but Mr Lane said he expected the report to be made earlier this year.
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Press, 4 May 1984, Page 10
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195UPP plans 1:5 bonus Press, 4 May 1984, Page 10
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