Loss-making Rakon dangles dividends for ‘long-suffering’ shareholders

Fri, 06 Sep 2013

Sept 6 (BusinessDesk) - Rakon, the wireless device components maker, plans to start paying dividends in a bid to revive sagging investor confidence after successive years of an underperforming share price. Chairman Bryan Mogridge told shareholders the board today resolved to pay up to 50 percent of net profit, provided it’s fiscally appropriate, after the year ended March 31, 2015. Rakon has previously steered clear of a cash return to shareholders, arguing it was creating more value by retaining earnings to let it capitalise on growth opport...

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