USA: Payment of Pro-Fac's Q4 dividend delayed on underestimated impairment charge
Rochester, NY-based agricultural cooperative Pro-Fac Coop will this year delay the payment of dividends normally paid on or about 31 July on its cumulative preferred stock, non-cumulative preferred stock, and common stock. The firm's board of directors announced on 21 June that Pro-Fac and Agrilink Foods, its wholly-owned subsidiary, incurred a non-cash impairment charge for the FY ending 29 June 2002.
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