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| Increased dividends for
DCSL shareholders |
Despite adverse conditions
in the market, foreign exchange rates and the security situation
in the country, Distilleries Company of Sri Lanka (DCSL) announced
that a 42.5 per cent dividend be paid to the company's shareholders
this year.
It is an increment of 2.5 per cent compared to last year's 40
per cent dividend. With the new dividend rate, the gross yield
is 17 per cent P.A. on the year end share price for shareholders.
This was revealed at the 11th annual general meeting of DCSL
held last week.
It was further revealed that the total tax per bottle of liquor
now stand at 76 per cent of the selling price and this ranks
as one of the highest in the world.
Addressing the shareholders at the AGM, V.P. Vittachchi, Chairman
DCSL said that over 70 per cent of Sri Lanka's liquor consuming
population now cannot afford tax-paid liquor, 10 per cent from
the top bracket consume improved high-priced liquor and the
balance 20 per cents shared by the legal sector and the illegal
liquor sector which does not pay tax.
Sunday 18th November 2001
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History
