GraceKennedy Announces New Dividend Policy

GraceKennedy Ltd. had advised that its Board of Directors has approved a new policy for payment of dividends. Under the new policy the Company will increase dividend payments to minimum of 15% of Net Profit Attributable to Stockholders, up from a minimum of 10%. The decision was also taken to increase the frequency of dividend payments from two to three times yearly. In a cautionary statement the Board said the policy must be viewed against the background of an unpredictable environment and is subject to available cash flow.