CREDIT AND FINANCE
Dividend Up To 11 p.c.
Director* of Credit and Finance, Ltd., Christchurch, recommend a final dividend of 7 per cent, on ordinary shares, making 11 per cent, for the year. The company has paid 10 per cent, for 10 years. A 5 per cent, dividend is recommended for preference shares.
After transfer of £5OO to the general reserve, the carry-forward is £147 (£137 last year). Net profit for the year Is up £lB7 at £2960 Total shareholders’ funds are up £5lO at £30,147, and total assets are now £72.277 up £7992 The directors report that the debenture issue of £lO,OOO floated during the year was heavily oversubscribed and these fund® have been put to profitable use although the extra profits are not yet fully reflected in the account*. Wilkins And Davies.—A meeting of the Wilkins and Davies Construction Company, Ltd., has authorised an increase in the preference dividend from 5 per cent., participating to 6 per cent., to 5} per cent., participating to 7} per cent. Authorised capital has been increased to £400.000 by the creation of 100,000 ordinary shares of £1 each.
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Press, Volume C, Issue 29511, 12 May 1961, Page 17
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186CREDIT AND FINANCE Press, Volume C, Issue 29511, 12 May 1961, Page 17
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