Papantoniou declares interim dividend

The Board of Directors of CAC Papantoniou (PAPA) having reviewed the Group’s activities came to the conclusion that the financial results for 2006 are expected to show improvement compared to the corresponding results of 2005. This improvement is attributable to the increase in the turnover, the increase in the gross margin of profit and the profit from the sale of property.
Taking into account the improvement, the Board of Directors examined and approved the proposal for the payment of an interim dividend for 2006. The gross interim dividend has been set at 10% on the nominal value of the share, that is, 2 Cyprus pound cent or 3.45 euro cents per share. The cum-dividend date has been set at December 27, 2006 and the ex-dividend date will be on December 28, 2006.

The interim for this year matches the 2c or 3.45 euro cent interim declared a year ago and gives a yield of 4% based on current prices. Last year, PAPA declared and paid a total of 8.3 euro cents dividend for a 9.7% yield.
The cheques will be posted to the beneficiaries by January 22, 2006.