Last night, under the chairmanship of Jeffrey Prosser, BTL held its annual general meeting. As we reported three weeks ago, Prosser presided over the AGM for 2203 to 2004 which saw the company's weakest showing in over ten years. Profits were down to $18 million, even as earnings zoomed up to $123 million. Still, Prosser's board paid a dividend of 22 cents per share but it is the last dividend for at least the next 5 years. The Chairman explained why in his_remarks which you can read by clicking here.
Prosser says that those who don't want to wait around for the next dividend will have the option to sell their shares to him in November. Prosser's has told us that his wish is to make BTL fully private, as that is the preferred style for companies he owns and operates.