Shareholders of Kontiki Finance Limited, a locally owned credit facility, now have the opportunity to increase their shareholdings through a new dividend reinvestment plan. This initiative allows existing shareholders to forgo cash dividends in exchange for additional shares at a discounted rate.
The reinvestment price is set at $1.02 per share, which reflects a five percent reduction from the average share price in the month leading up to the dividend announcement.
Kontiki Finance chairman, Barry Whiteside, confirmed that shareholders can acquire additional shares without incurring any brokerage fees or charges. He mentioned, “Shareholders who decide to join the reinvestment plan will receive newly issued shares. The number of shares allocated will match the total amount of dividends owed to the shareholder, rounded down to the nearest whole number.”
Eligible shareholders who are registered with Kontiki Finance as of November 15 can take part in this plan. For example, if a shareholder receives $100 in dividends, they can opt to convert that amount into 102 shares instead of receiving cash.
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