Shareholders of Kontiki Finance Limited, a locally owned credit institution, are now able to expand their shareholdings through a newly implemented reinvestment scheme. Under this plan, existing shareholders can choose to convert their dividends into additional shares at a reduced price.
The reinvestment price for shares is set at $1.02 each, representing a five percent discount based on the average share price from the month preceding the dividend announcement.
Additionally, shareholders can reinvest without incurring any brokerage fees or charges, according to Kontiki Finance’s chairman, Barry Whiteside. He explained that shareholders opting into the reinvestment plan will receive newly issued shares equivalent to the total dividend amount they are entitled to, rounded down to the nearest whole number.
All registered shareholders of Kontiki Finance as of November 15 can participate in this plan. For instance, if a shareholder is entitled to $100 in dividends, they would have the option to reinvest that amount, receiving 102 shares instead of cash.
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