Options sale pays dividends for City Pacific
(13th January 2004 – Australia) Diversified funds manager City Pacific has said it will pay shareholders a half year, fully franked dividend of ten cents and was on target to pay 30 cents fully franked for the full year – up 100 percent on the previous year.
Chief executive Phil Sullivan said the company, which has $640 million funds under management, had added 23.5 million shares to its existing share base through its recent options sale arrangement.
This brought the company’s shares on issue to 88.5 million and market capitalisation to about $310 million.
Sullivan said City Pacific was preparing a new fund, with a product disclosure due to be released to the public shortly.
This brought the company’s shares on issue to 88.5 million and market capitalisation to about $310 million.
Sullivan said City Pacific was preparing a new fund, with a product disclosure due to be released to the public shortly.
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