2 weeks Ago By Fiji Sun News
Shareholders of the country ‘s locally owned credit facility, Kontiki Finance Limited, can now own even more shares through a reinvestment plan put in place by the company. Existing shareholders could opt to cash in dividends for additional shares at a discounted price, from the share price on that date. Under KFL’s dividend reinvestment plan, the reinvestment price will be $1.
02 per share. The reinvestment price is set at a five per cent discount to the average share price over the month prior to the dividend announcement. No Added Fees Reinvestment into additional shares can be made without paying any brokerage fees or levies, said Kontiki Finance chairman Barry Whiteside.
“Shareholders who elect to participate in the reinvestment plan will receive newly issued shares,” Mr Whiteside said. “The number of shares will be equal to the total amount of dividend to which the shareholder is entitled. “The number of shares will be rounded down to the nearest whole number.
“Everyone who is registered as a shareholder in KFL as of November 15, can opt for the re-investment plan.” and get 102 shares instead of cash. That price is calculated at $1.
02/share, meaning if you get $100 in dividends, you can reinvest that and get 102 shares instead of cash. Feedback: frederica.elbourne@fijisun.
com.fj.
