GEAR MEAT DIVIDEND LOWER

Evening Post, Volume CX, Issue 137, 8 December 1930, Page 14

GEAR MEAT DIVIDEND LOWER

The directors of the Gear Meat Preserving and Freezing Company of New Zealand, Ltd., in presenting the balancesheet and profit and loss account for the year ended 30th November last, regret that the operations for the period do not show a, satisfactory result. The loss for the year is £33,495 14s 4d; less amount carried forward, 30th November, 1929, £16,----008 16s 8d; £17,486 17s 8d; add interim dividend paid in June, £17,250;. and the total debit profit and loss account is £34,----736 17s Bd. The directors recommend the following transfers to profit and loss account: From reserve fund, £15,000; from marine, fire, and accident insurance reserve, £50,764 Is Sd; making £65,764 Is Bd. This leaves the sum of £31,027 4s available, and in view of the losses sustained, the directors have decided to recommend the payment of a reduced final distribution of one shilling and threepence per share, making, with the interim dividend, paid in June, a total of two shillings per share for the year. 'This will absorb £28,750, leaving! £2277 4s to be carried forward. j The retiring directors are Mr. Allan Strang and Mr. D. W. Anderson, who, being eligible, offer themselves for re-1 election. The auditors, Messrs. Ernest j W. Hunt and E. R. Dyniock, also offer themselves for re-election.