SCL
24/11/2014 08:30
DIVIDEND
REL: 0830 HRS Scales Corporation Limited
DIVIDEND: SCL: Interim Dividend announcement
SCALES CORPORATION ANNOUNCES INTERIM DIVIDEND
Auckland cold store project also confirmed
The directors of listed agribusiness company Scales Corporation (NZX:SCL)
today announce a 3c per share fully imputed interim dividend payable for the
2014 financial year on 19 December 2014.
The directors say the dividend reflects the Group's strong balance sheet and
lower levels of debt than that included in the Prospective Financial
Information (PFI) contained in the prospectus issued in June 2014 prior to
Scales' listing on NZX on 25 July 2014.
The record date for the interim dividend is 9 December 2014.
In addition, subsidiary Polarcold's new Auckland coldstore project is now
unconditional with earthworks for the new facility expected to begin
immediately.
Scales Corporation managing director Andy Borland says the project is backed
by an agreement to lease land and buildings from Ports of Auckland in South
Auckland.
"Fonterra is signed under long term contract for half the capacity and
Polarcold plans to secure new FMCG business for the balance of the 8,700
square metre facility," Mr Borland says.
The company also confirms it remains on track to meet, if not slightly
exceed, its 2014 PFI forecast profit.
Further, Scales Corporation advises it intends providing updated guidance on
its 2015 PFI performance following a review of the Group's 2015 budgets. The
guidance will be provided to the market before 31 December 2014.
About Scales Corporation
Scales is an established agribusiness market leader with long standing
customer relationships, efficient operating systems and an experienced
management team. It comprises three operating divisions: Horticulture,
Storage & Logistics and Food Ingredients. The company's diverse spread of
activities gives Scales broad exposure to New Zealand's primary sector.
Scales was founded in 1897 as a shipping business by George Herbert Scales.
Today it employs more than 400 staff New Zealand wide. Find out more at
www.scalescorporation.co.nz
Contacts:
Andy Borland, Managing Director, Scales Corporation Limited, DDI: 0-3-371
0345, Mob: 021-975 999, email: [email protected]
End CA:00257977 For:SCL Type:DIVIDEND Time:2014-11-24 08:30:06
