Rates Round Up

Hawkins' Cynotech foregoes interim dividend
Cynotech Holdings chairman Allan Hawkins has told investors they will have to forego an interim dividend as the company takes an "unashamedly conservative" approach to protect the company in the current environment.

Hawkins, who has criticised the provisions taken by some other finance companies, expects more firms in moratorium to fall over and that there won't be an improvement in the sector in the calendar year.

Still, he predicts Cynotech will continual to improve next year as a result of the prudent measures the company has taken.

Dorchester Pacific makes fourth payment to investors
Dorchester Finance, the subsidiary of Dorchester Pacific, made its fourth payment to debenture stock investors under its deferred repayment plan, taking the total amount repaid to 35%.