Forum Archive Index - September 2000

["G.P.Thompson" <gp.thompson@bitworks.co.nz>]

The following announcement was made this morning.

Difficult to know what to make of it. It is possible that divestment decisions are now very close.

 

GPT

 

DIV: FLC: DECISION ON FINAL DIVIDEND DEFERRED

On 30/08, the Board of Fletcher Challenge announced that, unless the
separation process of the Company resulted in a third party sale
recommendation, the Directors intended that Fletcher Challenge Building and
Fletcher Challenge Energy would declare a final dividend of 8cps and 10cps
respectively (record date 29/09 and payment date 12/10 and 13/10 for American
Depositary Receipt holders)._
The CHR, Dr Roderick Deane, said this morning "As final decisions have not
yet been made on the separation of the Building, Energy and Forests
Divisions, the Board considers it prudent to defer making a decision on the
final Building and Energy dividends"._
Dr Deane added that a further announcement will be made as soon as possible
when the Board is in a position to advise the outcome of the separation
process.  At that time, unless the separation process of the Company results
in third party sales recommendations, the Board will declare final dividends
of 8cps and 10cps for Fletcher Challenge Building and Fletcher Challenge
Energy respectively, and announce record and payment dates._
END