June 29, 2020 / 1:44 AM / 13 days ago

BRIEF-Rakon Declared That No Dividend Is To Be Paid For 2020

June 29 (Reuters) - Rakon Ltd:

* RAKON- DECLARED THAT NO DIVIDEND IS TO BE PAID FOR 2020

* RAKON- MAINTAINS DIVIDEND POLICY SUCH THAT IT WILL PAY DIVIDEND OF UP TO 50% OF AFTER TAX PROFIT, IF CONSIDERED FISCALLY APPROPRIATE

* RAKON - FY NET PROFIT AFTER TAX $4.0 MILLION VERSUS $3.4 MILLION

* RAKON - COVID-19 HAD NEGATIVE SHORT-TERM IMPACT ON GROUP WITH NZ & INDIAN MANUFACTURING OPERATIONS SEVERELY RESTRICTED FOR PERIODS OF TIME

* RAKON - FY REVENUE $119.0 MILLION VERSUS $114.0 MILLION

* RAKON LTD- MEDIUM TO LONG TERM EFFECTS OF COVID-19 NOT EXPECTED TO BE MATERIALLY ADVERSE

* RAKON LTD- ALL MANUFACTURING FORECAST TO RETURN TO FULL PRODUCTION BY END OF JUNE 2020

* RAKON- ALL FIGURES IN NZ$ Further company coverage:

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