Tobacco.org

Rothmans Inc.: 2nd Quarter Report Six Months Ended September 30, 2002 

The Board of Directors of Rothmans Inc. today declared a special dividend of $5.00 per share payable December 17, 2002 to shareholders of record at the close of business December 3, 2002. This special dividend will be in addition to the regular quarterly dividend of $0.375 per share.

"Over the past six months, we have been reviewing the global tobacco industry for acquisition opportunities for the Company"said John Barnett, President and Chief Executive Officer of Rothmans Inc. "Whilst our assessment led us to the conclusion to pay a special dividend at this time, we believe that continued consolidation in the global industry may well present opportunities in the future. We believe that Rothmans' continuing financial strength will allow us to pursue these opportunities should they arise." . .

The Company was recently advised that it has been named as a defendant along with numerous other parties and tobacco manufacturers in an action commenced in the United States District Court for the Southern District of New York. The proceeding, which has not been served on the Company, claims damages as a result of apartheid policies practiced in South Africa. Neither the Company nor RBH have conducted business in South Africa and the Company does not believe it should be named in the proceeding.

Jump to full article »