Manaccom Corporation to pay maiden dividend

The ASX-listed company (formerly known as Jumbo Corporation) claimed in an statement that the inaugural dividend represented 20 percent of Net Profit after Tax (NPAT). It will be paid to shareholders as a final dividend later this year. Manacomm stated that it has proposed a payment of both an interim and final dividend for future years – each based on at least 20 percent of NPAT.

Mike Veverka, CEO of Manaccom, said investors could expect a dividend in October 2008 of about one cent per share if NPAT for the full year to 30 June 2008 is at the upper end of the guidance ($1.3 to $2.0 million).

“The successful acquisition of Manacomm PTY LTD in September last year and robust trading since then, both have delivered stability in the company and this has been the catalyst for our maiden payment,” said Veverka.

He claimed the company’s operations have matured and Manacomm expects profits to be sustainable in the future. In these circumstances the directors consider it appropriate to commence paying dividends.

“The company is also actively seeking future acquisition opportunities to accelerate the rate of growth. The directors are currently reviewing the number of proposal synergies with either the distribution and software publishing division or the online division,” said Veverka.