| ||AWB pays out $53.1 million in dividends|| ||
Australia’s leading grain marketer, AWB Limited, today paid out $53.1 million in dividends to ‘B” class shareholders.
AWB’s Chief Executive, Andrew Lindberg, said as a result of a strong first year profit of $63.3 million, AWB would pay a final fully franked dividend of 22 cents per share today.
“The full year dividend amount of $53.1 million will be paid to AWB’s “B” class shareholders direct to their bank accounts or by cheque sent via the mail today,” said Mr Lindberg.
“This is a payout of 85% of total profit and is timely due to some of the harvest problems growers have experienced, especially in New South Wales and Western Australian.
“This payment may go some way towards assisting the cash flow requirements of some wheat growers, who are the majority of AWB’s “B” class shareholders,” said Mr Lindberg.
The 1999-2000 financial year has been solid for AWB both in terms of profitability as well as in terms of the development of longer-term initiatives to ensure the company’s continued growth.
“I am confident that our strategic direction and the management team we have in place means that we are well prepared for future challenges,” Mr Lindberg said.
AWB is continuing to encourage those shareholders who have not yet filled in the Direct Credit Form, which were mailed out in October, to take the time to complete and return the form to ensure their banking details are correct for future dividend payments.