The 100% dividend payout ratio was not in place as a result of the Hills shareholding so the recent change does not impact on the Korvest payout policy.
The payout policy was put in place due to:
· Korvest’s cash position with no debt
· Available franking credits, and
· No “live” acquisition opportunity.
We have recently announced the acquisition of two Queensland based businesses however at this stage the Board has not discussed any amendment to the dividend policy. Any change to the policy would be announced on the ASX announcements platform if a policy change occurs.
Regards
Steven McGregor. Finance Director
KOV Price at posting:
$7.07 Sentiment: Hold Disclosure: Held
