Collapse Files · CF-012
The Dividend Was Paid For Twenty-Two Years. The Last Four It Came From Reserves Not Earnings. The Shareholders Did Not Know.
Caldwell Consumer Group maintained a dividend for 22 years, but from 2017 onward, it was paid from reserves, not earnings. Sandra Hewitt, the Finance Director, knew the truth and wants to highlight the difference between being legally accurate and being honest with shareholders.
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