MASON BROS. PROFIT UP
Div. Ahead Of Forecast (N.Z. Press Association) AUCKLAND, July 8. Mason Bros, Auckland heavy engineer and merchant, will pay a total of 9 per cent for the year to March 31, compared with last year’s effective rate of 8.2 per cent on capital raised by a one-for-four bonus issue. Net profit in the latest year edged up £1990 to £148,436. This was after deducting minority interests. When the bonus issue was announced in February last year, the directors forecast a dividend of 8 per cent on the higher capital. Latest results represents an earning rate of 20.5 per cent on ordinary capital, compared with 20.2 per cent on bonus-increased capital last year.
Final dividend of 5 per cent is payable on July 26. Shares are ex-dividend on July 20. At the extraordinary meeting in April, which approved the one-for-four convertible note issue, the chairman, Mr C. M. Richwhite, forecast that the profit would not be less than last year’s record. Higher earnings in Auckland had been offset to some extent by a decline in profit of the Christchurch subsidiary, he said.
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Press, Volume CVI, Issue 31107, 9 July 1966, Page 18
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185MASON BROS. PROFIT UP Press, Volume CVI, Issue 31107, 9 July 1966, Page 18
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