VIBRAPAC BLOCKS
Increase In Dividend
Recommending a final dividend of 6} per cent, making an increased 11} per cent for the year, directors of Vibrapac Blocks say the company has had a record year both for sales and profit. Last year the company, Christchurch-based maker of concrete masonry, paid 10-5/6 per cent for the year. Dividend was lifted to 10 5/6 per cent in 1963 from 10 per cent the year before. Latest dividend makes Is lid a 10s share for the year to March 31.
Directors, at a special meeting yesterday, allotted 84,325 10s ordinary shares and 84,325 6} per cent convertible notes. This was done in terms of the recent offer to shareholders. Shareholders on the books on April 1 qualified for the offer.
The 6} per cent unsecured notes convert to ordinary one dollar shares on April 1, 1971.
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Press, Volume CVI, Issue 31081, 9 June 1966, Page 21
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142VIBRAPAC BLOCKS Press, Volume CVI, Issue 31081, 9 June 1966, Page 21
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