Hi Editor … Stephen Mayne may be interested in this announcement from News Corp Adelaide’s Office posted on the Comsec site a short while ago.

I have calculated Australian shareholders of Class B shares (Dividend struck $US0.02) will yield less in $AUD terms than previously paid. In the case of my very minute holding the half-yearly dividend goes from $AUD0.78 to $AUD0.65. I reckon there could be some very upset News shareholders around Australia when they wake up to this. Rupert won’t increase the dividend but now hands out less in OZ terms since the incorporation of News in the U.S. Class A dividend $US0.05 = $AU0.062925; Class B $US0.02 = $AU0.02517.

Cheers John Johnston

Long time Sole Subscriber

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