KAML announces dividend

 KINA Asset Management Ltd (KAML) has announced a final dividend of 04toea for the last financial year ending Dec 31.

Chief executive officer Syd Yates said KAML would offer shareholders the opportunity to take advantage of the company’s dividend reinvestment plan option.

He said the company recently announced a net tangible asset (NTA) of K1.23 per share for last month, however warned of the potential impact of the Bank of Papua New Guinea’s introduction of exchange rate trading band in PNG’s foreign exchange market.

Yates indicated that the material impact to the performance could be potentially adverse on this month’s NTA following the new instructions issued by the Central Bank.

“The full year earnings impact is yet to be determined as the market is still adjusting to the new regime,” he said.

“We will advise in fuller detail of these developments in KAML’s half yearly announcement later in the year,” Yates said.

KAML will be holding its Annual General Meeting at the Ela Beach Hotel, Port Moresby tomorrow.