Announcement
CORPACT: SCL: Final Dividend - 2019 Financial Year
08:31am
SCL
05/05/2020 08:31
CORPACT
NOT PRICE SENSITIVE
REL: 0831 HRS Scales Corporation Limited
CORPACT: SCL: Final Dividend - 2019 Financial Year
5 May 2020
SCALES CORPORATION CONFIRMS FY2019 FINAL DIVIDEND
The Directors of Scales Corporation Limited (NZX:SCL) have declared a fully
imputed final cash dividend for the 2019 Financial Year of 9.5 cents per
share.
Taking into account the 9.5 cents interim dividend paid in January 2020, cash
dividends for the 2019 year total 19.0 cents per share, which represents 74%
of Underlying Net Profit.
The unprecedented global operating and trading conditions reinforce the
benefits of the current dividend policy, in particular the payment date for
the interim and final dividends. Waiting until the current year apple harvest
is well advanced prior to payment supports the group maintaining its strong
financial position.
While the Directors reiterate their commitment to paying an annual cash
dividend of no less than 19.0 cents per share whilst the company holds Net
Cash, this remains subject to business as usual trading conditions.
The final dividend is payable on 10 July 2020, with a record date of 29 June
2020.
Annual Shareholders' Meeting
The Annual Meeting is scheduled for 3.30pm, Tuesday 9 June 2020. In light of
the various restrictions that have been introduced as a result of the current
COVID-19 pandemic, the 2020 Annual Meeting will be held as an online only
meeting. The Notice of Meeting will be distributed shortly.
The meeting will provide an excellent opportunity to update shareholders on
progress to date for each business unit, including confirmation of the final
gross apple cartons harvested and estimated pack out percentage for Mr Apple,
as provided historically.
About Scales Corporation
Scales Corporation is a diversified agribusiness group. It comprises three
operating divisions: Horticulture, Logistics and Food Ingredients. The
company's diverse spread of activities gives Scales broad exposure to New
Zealand's agribusiness sector. Scales Corporation was founded in 1897 as a
shipping business by George Herbert Scales. Today it has operations across
New Zealand, Australia and the United States. Find out more at
www.scalescorporation.co.nz.
Contact
Andy Borland, Managing Director, Scales Corporation Limited, Mob: 021 975
999, email: andy.borland@scalescorporation.co.nz
End CA:00352623 For:SCL Type:CORPACT Time:2020-05-05 08:31:08
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