Grace, Kennedy – New Dividend Policy

Posted: September 25, 1997 at 12:00 am

At a Board meeting on september 25, the Directors adopted a dividend policy as under: To distribute at least 10% of the net profit attributable to stockholders. The new policy must be viewed against the background of an unpredictable economy. However, the company intends to maintain a total dividend pay out in dollars which is no less in any year than the preceding year. The company will continue to pay dividends twice yearly.

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