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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