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VALLEY EARNINGS

Drewry Photocolor Reinstates Its Quarterly Dividend

July 07, 1987

Drewry Photocolor Corp. reinstated a quarterly dividend after posting a $254,456 profit for fiscal 1987, contrasted with a loss of $196,126 the previous year.

Drewry, a Burbank-based concern that processes film for retail clients, said it would pay a dividend of 5 cents a share July 20 to stockholders of record July 6.

A year ago the company suspended its quarterly dividend, then 2 cents a share, in light of losses that were blamed in part on industry price cutting.

But, in its fiscal year ended last April, Drewry said, lower costs and higher sales from many existing customers led to a profit of 43 cents a share. Overall annual sales fell 7%, from $29.2 million to $27.2 million.

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