Stake dividends to swell by over R6,3m

The stake dividends for races in KwaZulu-Natal and Western Cape will be increased by more than R6,3million from November 1.

The stake dividends for races in KwaZulu-Natal and Western Cape will be increased by more than R6,3million from November 1.

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 R134486000, of which R108246000 will be for non-feature races.

Michel Nairac, Gold Circle chief executive officer, said he was delighted to announce the new increases as they formed part of Gold Circle's philosophy to maximise 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 25percent have been made in both regions with some feature races enjoying the largest increase.

In 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 - R10000 per race - will relate to MR102 and races where the dividend increases to R100000 MR78 and MR82 events where dividends are increased to R70000 and R75000, respectively. Dividends of 23 feature races in this region are also increased.

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