Rakon to pay maiden dividend

Rakon's chair Lorraine Witten had been under pressure to pay a dividend. (Image: Rakon)

Wed, 24 May 2023

Tech parts maker Rakon said it will pay a maiden dividend, as the company announced a 30% profit decline this morning. The firm said it will pay a 1.5c per share dividend and introduce a reinvestment plan.Rakon said underlying earnings before interest, tax, depreciation and amortisation (Ebitda) for the 12 months to March 31 dropped to $42.2 million from $54.4m in the previous period, due to inflationary pressures and increased investment in growth initiatives.The company’s March guidance forecast 2023 earnings at between $40m and $4...

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