GRACE BROS. N.Z.
Interim Div. 4 Per Cent (N.Z. Press Association) WELLINGTON, Jan. 17. Interim dividend of Grace Brothers, Ltd. (New Zealand), Auckland-based furniture retailers, is a steady 4 per cent to be paid on February 28, according to the New Zealand Stock Exchange Association. The company’s books will be closed from February 21 to February 28 inclusive. Directors say in their interim report that for the first six months of the current year sales have shown a satisfactory increase while overheads have been contained. The extension and more rigid application of the credit squeeze in October has, however, brought about a lessening of demand which could bring difficult trading conditions for the rest of the financial year.
Notwithstanding these less favourable trading conditions the directors feel that the yearly dividend rate of 10 per cent will be maintained.
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Press, Volume CV, Issue 30961, 18 January 1966, Page 15
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139GRACE BROS. N.Z. Press, Volume CV, Issue 30961, 18 January 1966, Page 15
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