Kupe to review dividend policy
PA Auckland The directors of Kupe Petroleum NL, which has yet to pay a dividend, propose to review the company’s dividend policy, according to the annual report by the chairman, Mr P. W. Grayburn. Noting that the 50c shares are now paid to 40c, he says it is expected a further call will be made in the present year to make the shares fully paid. Investment activity was substantial, with favourable results both in short-term hold-
ings and liquid investments. Mr Grayburn notes the change from oil exploration to corporate investment with the acquisition of 19.9 per cent of Ceramco during the year and the move to take 50.2 per cent of Grosvenor Properties and the Duncan and Davies nursery business. As reported, March year tax-paid profit was $1,229,000 before extraordinary items which produced a $1,710,000 write-down of shares in subsidiary companies.
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Press, 19 August 1985, Page 30
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147Kupe to review dividend policy Press, 19 August 1985, Page 30
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