Blue Chip announces first dividend

Wednesday 24 November 2004

Blue Chip NZ Ltd’s first dividend as a listed company will be a fully imputed net 1.8c/share cash for the June half, payable 20 December.

By The Landlord

Managing director Mark Bryers said although most shareholders were owners of Blue Chip shares for only a very short part of that half-year, “the directors nonetheless believed the company should begin as it means to continue as a listed company, by involving all shareholders in the company's success.”

With a pro forma after-tax profit of $1.895 million for the 6 months, the dividend represents a payout ratio of about 50% of after-tax profits.

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