OPP bonus dividend
PA Dunedin Otago Press and Produce, Ltd, the Dunedin-based newspaper publisher, will pay a bonus dividend after increasing its group net profit 13.3 per cent to $2,326,000 in the year to March 31. Included in the result are equity profits of $98,000 ($491,000 previously), but extraordinary profits of $922,000 ($2000), including $869,000 from the float of Reuters, PLC, pushed the final result 58.1 per cent ahead of last year.
The directors are recommending the payment of a
final dividend of 11c a share, plus a 5c a share bonus dividend. The annual dividend rate has been increased from 20c to 30c a share, including the 10c in bonus payments made in the latest year. The directors say that the bonus dividends recognise the “considerable” benefit received through the NZPA Investments, Ltd, holding in Reuters, PLC.
The final 16c dividend will be tax-free.
Group sales increased 17.2 per cent to $34,318,000. The profit was after providing $529,000 more for tax at $1,705,000.
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Bibliographic details
Press, 3 July 1985, Page 36
Word Count
164OPP bonus dividend Press, 3 July 1985, Page 36
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