KATHLEEN INVEST.

Press, Volume CVI, Issue 31084, 13 June 1966, Page 17

KATHLEEN INVEST.

Big Drop In Income

IX.Z. Press Assn—Copyright) SYDNEY, June 8 Reflecting the suspension of dividend payments by Mary Kathleen Uranium. Ltd., income of Kathleen Investments (Australia) fell heavily in the year ended December 31 last.

The annual report shows a consolidated net profit of 253.926 dollars compared with 1,061.014 dollars for 1964. Main item of group revenue last year was the 230,000 dollar dividend received by the subsidiary Coffs Harbour Rutile N.L. from its 50 per cent interest in Rutile and Zircon mines (Newcastle). Rutile Dividend

In the previous year the group received a dividend of 1.193,880 dollars from its 35 per cent interest in M.K.U. and 60,000 dollars from Rutile and Zircon mines. Dividend paid and provided by Kathleen Investments in respect of 1965 totalled 889,346 dollars and the group balance sheet shows a debit balance of 48,250 dollars carried forward compared with a credti of 564,030 dollars previously. Commenting on future prospects, Kathleen Investments directors say that profitability of Rutile and Zircon Mines for its current year ending June 30 is expected to be substantially greater than in the previous year.

j McKendrick Dividend <N.Z. Press Association/ WELLINGTON. June 9. McKendrick Consolidated passed its interim preference dividend, usually paid in December or January, without telling the New Zealand Stock Exchange, but has since said this was done unwittingly and without the company knowing it was required to do so under the listing agreement. Directors say no actual decision was made to pass the dividend. Each was aware payment was best left over because capital expansion had affected the liquid position of the company.