Listed agribusiness Scales Corporation, which owns New Zealand's largest apple exporter Mr Apple, has announced a fully imputed final dividend of NZ$0.07 per share for the 2014 financial year.
It adds to the NZ$0.03 interim dividend paid to shareholders in December 2014, taking the total dividend for the 2014 year to NZ$0.10 per share, beating the company’s June 2014 prospectus forecasts of around NZ$0.09 per share.
Scales Corporation directors said the increase in dividend reflected a better than expected financial performance over 2014, with the 2015 financial year also shaping up well.
“Scales’ directors are pleased with how the company is tracking in 2015, with all three divisions, (horticulture, storage and food ingredients) trading as expected during the first quarter of 2015 and including this year’s apple harvest,” the company said in a statement.
Scales Corporation also took the opportunity to acknowledge the contribution Kevin Cahill, CEO of the group’s Polarcold coldstorage operations, who is set to retire this month after more than 37 years’ service to the company.
“Scales’ directors have greatly appreciated Kevin’s strong performance and dedication over his long tenure,” the statement said. “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.”
