Dorchester pays first dividend in 7 years after meeting guidance with jump in profit

Thu, 22 May 2014

By Suze Metherell May. 22 (BusinessDesk) - Dorchester Pacific, the finance company whose shares have more than doubled since a capital restructure in 2010, posted full-year earnings growth that met last month's guidance and declared its first dividend in seven years. Net profit jumped to $8.21 million for the year ended March 31, from $1.72 million a year earlier, and included a $1.67 million,interest prepayment relating to its convertible notes and a $3.23 million gain to bring tax losses onto the balance sheet, the Auckland-based compan...

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