Kina to pay out dividend of 3 toea

THE Kina Asset Management Limited board has announced that dividend will be made to eligible shareholders on August 5 this year.
A market release yesterday authorised by managing director and chief executive officer Syd Yates stated that the 3 toea per share would be paid as announced last month.
“The shares will trade ex-dividend from July 15, 2016,” the board said.
“The record date will be July 22, 2016 and payment will be made to eligible shareholders on the August 5, 2016.
“The board of directors are pleased to again offer current shareholders the opportunity to participate in Kina Asset Management Limited’s dividend reinvestment plan.
“The plan is an easy, cost-effective way to increase shareholder investment in Kina Asset Management Limited.
“It will be available for the dividend for year ending December 31, 2015, and a discount of 2.5 per cent will apply to the reinvestment on this dividend.”
The statement said the shares would be issued to participating shareholders on August 5, the dividend payment date, using the weighted average market price of the company’s shares sold on Port Moresby Stock Exchange during the seven trading days starting on the trading day after the record date of July 22.
“Shareholders that have previously elected to participate in the plan will automatically be registered as a participant for this upcoming dividend.
“To elect to participate in the plan, or change an existing instruction for the dividend payable on the 5th August 2016, shareholders election advice must be received by 5pm on the 22nd July 2016.”