SCL
18/05/2015 09:01
DIVIDEND
PRICE SENSITIVE
REL: 0901 HRS Scales Corporation Limited
DIVIDEND: SCL: Scales Corporation - 2014 Final Dividend
18 May 2015
SCALES CORP BEATS PROSPECTUS DIVIDEND FORECAST
Diversified listed agribusiness Scales Corporation Limited (NZX:SCL) has
declared a fully imputed final dividend for the 2014 Financial Year of 7c per
share.
Taking into account the 3c interim dividend paid in December 2014, the total
dividend for the 2014 year is 10c per share, beating the company's June 2014
prospectus forecasts of up to 9.6c per share.
Scales Corporation directors say the increase in dividend reflects better
than expected financial performance for 2014. The final dividend is payable
on 10 July 2015, with a record date of 1 July 2015
The directors have also confirmed that, subject to ongoing satisfactory
performance, they will in future declare interim and final dividends split
approximately evenly and payable in January (interim) and July (final).
Directors' comment
Scales' directors are pleased with how the company is tracking in 2015, with
all three divisions, (Horticulture, Storage & Logistics and Food Ingredients)
trading as expected during the first quarter of 2015 and including this
year's apple harvest.
A detailed update will be provided at the annual meeting scheduled for Monday
June 8 at 4.30pm in Christchurch.
The directors take the opportunity to acknowledge the contribution of
Polarcold CEO Kevin Cahill who is retiring at the end of May after more than
37 years' service to the company.
Scales' directors have greatly appreciated Kevin's strong performance and
dedication over his long tenure. Kevin is to remain as an executive director
of Liqueo, the group's liquid bulk storage operation, an area where he has a
high level of experience and expertise.
Steve Foote, current CEO of Whakatu Coldstores, is stepping up to run the
combined Whakatu and Polarcold coldstorage operations.
Contacts
Andy Borland, Managing Director, Scales Corporation Limited, DDI: 0-3-371
0345, Mob: 021-975 999, email: [email protected]
About Scales Corporation
Scales is a diversified agribusiness portfolio. 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 agribusiness 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
End CA:00264417 For:SCL Type:DIVIDEND Time:2015-05-18 09:01:11
