Shareholders of Kontiki Finance Limited, a locally owned credit facility, now have the opportunity to acquire additional shares through a new reinvestment plan. This initiative allows existing shareholders to use their dividends to purchase more shares at a discounted rate.
The dividend reinvestment plan sets the reinvestment price at $1.02 per share, representing a five percent discount based on the average share price from the month leading up to the dividend announcement.
According to Kontiki Finance Chairman Barry Whiteside, shareholders can reinvest without incurring any brokerage fees or levies. He stated that shareholders choosing to participate will receive newly issued shares equivalent to the total dividend amount they are entitled to, rounded down to the nearest whole number.
All individuals registered as shareholders in Kontiki Finance Limited by November 15 are eligible to opt into the reinvestment plan. For example, if a shareholder receives $100 in dividends, they can reinvest that amount to acquire 102 shares instead of receiving cash.
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