Stakes Increase29 October 2007 |
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The stake dividends for races in KwaZulu-Natal and the Western Cape will be increased by over R6.3 million from 1 November 2007. Gold Circle Racing has released details of the increases which will boost the company’s total dividends commitment for the two regions to a massive R134,486,000, of which R108,246,000 will be for non-feature races. Michel Nairac, Gold Circle CEO, said he was delighted to announce the new increases as they formed part of Gold Circle’s philosophy to maximize dividends to stakeholders. “For the past four years we have been able to increase dividends twice a year and we are fortunate to be able to do so again.” Stake dividend increases of up to 25% in some cases have been made in both regions with some feature races enjoying the largest increase. In the Western Cape in addition to the non feature race increases, the dividends of 35 feature races have been increased. Gold Circle saw justification in looking at its feature race programme in this region and saw it as prudent to increase the dividends of those events ahead of the Western Cape Summer Season. In KwaZulu-Natal the largest non feature race increases – R10,000 per race – will relate to MR102 and above races where the dividend increases to R100,000 (11% increase), MR78 and MR82 events where dividends are increased to R70,000 and R75 000 respectively (17% and 15% increase). The dividends of 23 feature races in this region are also increased. The new dividend breakdown for the two regions is: KwaZulu-Natal:
Western Cape:
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