Company News REID RUBBER CAPITAL

Press, Volume C, Issue 29498, 27 April 1961, Page 19

Company News REID RUBBER CAPITAL

Premium, Bonus Issues (N.Z. Press Association) AUCKLAND, April 26. Reid N.Z. Rubber Mills, of Auckland, plan to make a one-for-7 premium issue followed later this year by a one-for-10 bonus issue. Terms and conditions are: (1) One ordinary share for each complete seven shares held, to be offered at a premium of 15s. (2) Payment of Xss premium to be made with application by June 30. 1961. Payment of £1 to be made by August 31, 1961. (3) The new issue will rank for dividend as. from August 31. August 31 will in future be the balance date for the company instead of September 30. (4) Rights to the new issue may be sold. (5) The company will pay interest at 5 per cent, on any moneys paid in advance of the due date. Bonus Distribution Furthermore, it is proposed to make a bonus distribution to ordinary shareholders as at October 1. of one ordinary share for each ten shares then held, including the premium issue. This will be made out of capital reserves. Sales for the current year to date show a satisfactory increase on the figures for the comparative period of last year. The directors consider that, should there be no change in trading conditions, the interim and final dividends for the current year should be maintained and likewise next year on the increased capital. Credit And Finance Recommended final ordinary dividend is 7 per cent., making 11 per cent, for the year, compared with 10 per cent, paid for the previous five years. With the 5 per cent, dividend, the final ordinary dividend is payable on May 29. McKenzies Dividend. Recommended final dividend is 71 per cent- making 12J per cent, tor the year. Last year the company added a jubilee bonus of 2J per cent, to its 12J per cent dividend. The dividend is payable on July 3. ex June 26—<P.A.) Unit Trust Quotes.—lnvestors' Unit Trust: Buyers 4s 7d. sellers 4s lid. Ist Dominion Unit Trust: Buvers 4s 6d. sellers 4s lOd, 2nd Dominion Unit Trust: Buyers 4s 9d. sellers 5s Id. Finance and Indemnity.— Recommended final dividend is 41 per cent- making 8 per M nt ’ 2» r t! p yeaF ' payab!e on