Fletcher option
Fletcher Challenge, Ltd, shareholders in New Zealand and overseas will have a second chance, to review their option for dividends rather than tax-free bonus ordinary shares. In a letter to shareholders, the chairman, Sir Ronald Trotter, said it was clear from questions at the annual meeting that not everyone was aware of the tax implications of the dividend re-investment scheme. While all dividends are now taxable, under existing legislation the bonus shares
(which could be later sold by shareholders needing cash) were not. In New Zealand 69 per cent of Fletcher Challenge shareholders signed up for the bonus share option, 8 per cent in Australia and 4 per cent of the shareholders on the London registry. Because of their source, in all countries the bonus shares are tax-free. The shareholders have been asked to return their forms by February 21 to the appropriate share reg istry.
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https://paperspast.natlib.govt.nz/newspapers/CHP19860206.2.84.12
Bibliographic details
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Press, 6 February 1986, Page 10
Word count
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148Fletcher option Press, 6 February 1986, Page 10
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