tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Sunday, February 25th, 5:15PM

Investments

rss
Latest Headlines

Kingfish introduces quarterly dividends

Fund manager Carmel Fisher's Kingfish, the small cap investor managed by Fisher Funds, will offer quarterly dividend payments to investors, with first return likely to be made in September.

Wednesday, June 24th 2009, 4:50PM

The new long-term distribution policy will pay 8% of its average net asset value over four quarters, and will allow investors to access a portion of their investment every year, said chairman Rob Challinor in a statement.

The offer isn't compulsory, and shareholders will be able to retain their long-term focus if they choose.  

"We don't expect all Kingfish shareholders will want to receive a cash distribution so a distribution reinvestment programme will continue to be offered," said Fisher.  

The fund manager had a disappointing 12 months as its NAV fell 25% to 92 cents in the year ended March 31 and cut its dividend to 4.5 cents per share.  It recorded a 9.8% increase to $1.01 in its June 17 update.  

Parent company Fisher Funds hadn't decided whether to extend the scheme to shareholders in its other two NZX-listed companies Barramundi and Marlin Global, and would monitor the uptake among Kingfish investors.  

"It's new and a bit different so we'll take a watch this space attitude before considering whether it is appropriate for the shareholders of the other listed funds." said Challinor.

« Com Com gives message to ING investorsRates Round up »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Rabobank 5.25  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com