C.P.D. HAS GOOD YEAR
Ord. Dividend Increased (N.Z. Press Association) WELLINGTON, June 13. Cable Price Downer, Wellington mechanical and civil engineer, is raising ordinary dividend rate to 10 per cent after a 35 per cent increase in net profit for the year to March 31. The directors, in a statement tonight, said that the year had been highly successful.
Group turn-over rose by nearly 20 per cent from £l3m to nearly £15.5m. Consolidated net profit was £473,000 against £351,000 in 1965 and £307,000 in 1964. The latest profit represents 13 per cent on ordinary shareholders’ funds and 21 per cent on ordinary capital. The recommended final ordinary dividend of 5} per cent will make 10 per cent for the year against 9 per cent in 1965 and 8 per cent in 1964. Total dividends for the year, including preference will take £222,000, leaving £251,000 to be added to the unappropriated earnings of £733,000, carried forward from last year. Reserves of the group now exceed £l.sm.
The ordinary dividend is payable August 23, ex dividend July 30.
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Press, Volume CVI, Issue 31085, 14 June 1966, Page 21
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176C.P.D. HAS GOOD YEAR Press, Volume CVI, Issue 31085, 14 June 1966, Page 21
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