Latec Defers Int. Div.
(N.Z.P.A.‘Keotes < nnvrfoht) SYDNEY, May 3. ' Latec Investments, Ltd., Sydney hire-purchase financier, has deferred payment 1 of the interim dividend that 1 directors announced previously would be paid last ' Saturday. A letter announcing the deferment has been sent to shareholders. 1 The dividend, of 7j per 1 cent., was declared by directors in February. In the letter, directors said that the decision to defer pay- j ment had been taken “in the interests of depositors and investors." They said it was a move 1 to “conserve liquidity to the utmost during the present . period of financial stringency.” Truth (N.Z.)'. ~ Recom- ‘ mended final dividends are 9 per cent, ordinary (making 12 per cent, for the year) and 3j per cent participating pre- : ference (6 per cent for the 1 ■ year). Total annual divi- ■ ■ dends on ordinary and par- 1 ticipating preference shares ■ are unchanged.—(PA.) [ Unit Trust Quotes.—Latest I quotations are: Ist N.Z. Unit • I Trust, buy 4s fid. sei) ss. N.Z 1 Income Trust (x.d.). buy 4s fid ' sell ss. Investors’ Unit Trust ; (x.d.). buy 4s 6d, sell 4s 10d. '
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Press, Volume C, Issue 29505, 5 May 1961, Page 16
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182Latec Defers Int. Div. Press, Volume C, Issue 29505, 5 May 1961, Page 16
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