OPP div. from float
PA Dunedin Shareholders of Otago Press and Produce, Ltd, will receive a 14c a share (14 per cent) taxfree final dividend as the company passes on money generated from the Reuters float. Yesterday’s annual meeting approved the dividend recommended by the directors. The Chairman, Mr T. C. Fraser, said it would have been taxable but for the realised capi-
tai profit in the Reuters reorganisation. The OPP payout will take about half the $869,000 received from Britain. The company’s profit was ahead after four months of the financial year, but it was difficult to predict the outcome for the full 12 months, Mr Fraser said. Advertising was well ahead, but some of this could be
attributed to the election, devaluation, and higher interest rates, with politicians, retailers and financiers all demanding space. There would also be extra costs incurred by Otago Fibre Packaging, Ltd, which was jointly owned with Whitcoulls. However, the extra cost of rehousing the Dunedin-based packaging company could produce long term benefits.
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Bibliographic details
Press, 16 August 1984, Page 22
Word Count
169OPP div. from float Press, 16 August 1984, Page 22
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