VRL 0.52% $3.89 village roadshow limited

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  1. gro
    28 Posts.
    Company Announcement


    Change to Dividend Policy

    VILLAGE ROADSHOW LIMITED 2002-06-07 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    The Village Roadshow Limited Board of Directors has been considering
    the Company's dividend policy for an extended period of time. In
    order to more closely align Village Roadshow with international
    growth companies, Directors have decided to suspend the dividend on
    Ordinary shares. It is the Directors' current intention to pay
    dividends on A Class Preference shares out of this year's profits
    however this policy will be reviewed in the future on an annual
    basis.

    Mr Robert Kirby, Chairman said "Whilst Village Roadshow has a strong
    balance sheet, there are substantial commitments with respect to long
    term operating leases on Exhibition properties. Suspension of the
    Ordinary dividend will assist in reinforcing the strength of our
    balance sheet. In addition it will improve the internal reserves as
    well as access to external resources available to pursue inherent
    growth opportunities in our core businesses of Exhibition, Theme
    Parks and Production. It will underpin long term general financial
    flexibility within Village Roadshow Limited."


 
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