Shareholders of Kontiki Finance Limited, a locally owned credit facility, now have the opportunity to acquire more shares through a new reinvestment plan. This initiative allows existing shareholders to exchange their dividends for additional shares at a discounted rate.
Under the dividend reinvestment plan, the price for reinvestment will be set at $1.02 per share, which represents a five percent discount from the average share price during the month preceding the dividend announcement.
Kontiki Finance Chairman Barry Whiteside stated that there will be no brokerage fees or levies for this reinvestment. “Shareholders who choose to participate will receive newly issued shares,” Mr. Whiteside explained. He noted that the number of shares awarded will be based on the total dividend amount each shareholder is entitled to, with the final count rounded down to the nearest whole number.
All registered shareholders of Kontiki Finance as of November 15 are eligible to participate in this reinvestment plan. For example, a shareholder receiving $100 in dividends could opt to reinvest and obtain 102 shares instead of taking cash.
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