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US: Pyramid Breweries dividend announced

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Pyramid Breweries Inc. has declared its quarterly dividend. The brewer's board of directors yesterday (3 November) declared a quarterly cash dividend of US$0.022 per common share.

This will be payable on 14 January next year to shareholders of record on 30 December 2004.

The company initiated its dividend program in the fourth quarter of 1999 and the first dividend was paid in 2000, Pyramid said. The dividends paid in years 2000 through 2003 were a return of capital to shareholders for Federal income tax purposes and the company believes that a portion of the dividends to be paid in 2004 may be a return of capital. Nearly all Pyramid shareholders receive favourable tax treatment of dividends that are a return of capital (other than Qualified Plans and IRA's).

The company's current quarterly dividend results in an annual yield of 4.3% to Pyramid shareholders based on the end of day stock price on 29 October.


Sectors: Beer & cider

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