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Shareholders question PIM’s dividends stand


Fri, 27 Feb 2009 03:16:00
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Packaging Industries Malawi Limited (PIM) has been taken to task by some of the company’s shareholders for their decision to curtail payment of the final dividend.

The issue developed at the company’s Annual General Meeting (AGM) following the Board Chairman Willie Weise’s proposal to declare K9.4 million or 14 tambala per share which was paid as interim dividend as the final share.

However one of the shareholders Joe Maere asked the board the meaning of the whole development.

Responding to the question, the company’s Managing Director Simon Itaye said “the move was made to PIM’s cash flow as it was investing in upgrading machinery.”










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