MADERAS Y SINTETICOS, S.A.
SANTIAGO, Chile, Aug. 10 /PRNewswire/ -- Maderas y Sinteticos S.A. (NYSE: MYS) today announced that in accordance with the company's dividend policy, the board of directors has decided to pay an interim dividend (No. 20), against 1993 results. In Chile, the dividend will be $2,75154 pesos paid to all shareholders of record on Aug. 20, 1993. Payment date will be Aug. 26, 1993. For American Depositary Receipt (ADR) holders, The Bank of New York will pay the dividend on Sept. 17, 1993 to shareholders of record on Aug. 20, 1993. One ADR is equivalent to 30 shares of common stock. Therefore, the dividend to ADR holders will be $82,5462 pesos minus the withholding tax. The net dividend payable in U.S. dollars will depend on the exchange rate on the date of payment. MASISA, which listed its American Depositary Receipts on the NYSE in June, 1993, is the leading manufacturer in Chile of raw, melamine laminated and wood veneered particle board producing approximately 95 percent of the particle board produced in Chile. The company is also a leading Chilean producer of wood doors, plywood and complementary products such as molding, wood veneer, door frames, lumber and other related products. -O- 8/10/93 /CONTACT: Rony Obach, chief financial officer of Maderas y Sinteticos, S.A., 011-562-683-7202, or Felicia Vonella of Dewe Rogerson, 212-688-6840/ (MYS)
CO: Maderas y Sinteticos S.A. ST: IN: SU: DIV
WB-TS -- NY057 -- 1225 08/10/93 13:17 EDT
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|Date:||Aug 10, 1993|
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