Shareholders of Kontiki Finance Limited, a local credit facility, now have the opportunity to acquire more shares through a newly introduced reinvestment plan. This initiative allows existing shareholders to convert their dividends into additional shares at a discounted rate compared to the prevailing share price upon the announcement.
According to the company’s plan, the price for reinvestment will be set at $1.02 per share, representing a five percent discount off the average share price from the month prior to the dividend declaration.
Kontiki Finance chairman Barry Whiteside emphasized that there will be no additional brokerage fees or levies for those participating in the plan. He stated, “Shareholders who choose to participate will receive newly issued shares equivalent to the total dividend amount they are due, rounded down to the nearest whole number.”
Only shareholders registered with KFL by November 15 will be eligible for the reinvestment option, enabling them to receive 102 shares instead of cash for a $100 dividend payout.
Leave a comment