Kingfish introduces quarterly dividends
Fund manager Carmel Fisher's Kingfish, the small cap investor managed by Fisher Funds, will offer quarterly dividend payments to investors, with first return likely to be made in September.
Wednesday, 24 June 2009
The new long-term distribution policy will pay 8% of its average net asset value over four quarters, and will allow investors to access a portion of their investment every year, said chairman Rob Challinor in a statement.
The offer isn't compulsory, and shareholders will be able to retain their long-term focus if they choose.
"We don't expect all Kingfish shareholders will want to receive a cash distribution so a distribution reinvestment programme will continue to be offered," said Fisher.
The fund manager had a disappointing 12 months as its NAV fell 25% to 92 cents in the year ended March 31 and cut its dividend to 4.5 cents per share. It recorded a 9.8% increase to $1.01 in its June 17 update.
Parent company Fisher Funds hadn't decided whether to extend the scheme to shareholders in its other two NZX-listed companies Barramundi and Marlin Global, and would monitor the uptake among Kingfish investors.
"It's new and a bit different so we'll take a watch this space attitude before considering whether it is appropriate for the shareholders of the other listed funds." said Challinor.
Commenting is closed
Find a Rate
11 January 2017
21 November 2016
12 November 2016
10 November 2016
7 November 2016
Cash PIE Rates
Weekly Updates including news and commentary
Disclaimer - Every possible effort has been made to keep the information in the tables and on this site as accurate as possible, however, neither the publisher, Tarawera Publishing, nor anyone engaged to compile the rates and this site accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details with providers. The full terms and conditions of this site can be found here.
© Copyright 1997-2017. Tarawera Publishing Ltd. All Rights Reserved.