DIVIDENDS MAINTAINED

Evening Post, Volume CX, Issue 139, 10 December 1930, Page 14

DIVIDENDS MAINTAINED

Directors of British Tobacco Co. (Australia), Ltd., report for the year ended 31st October, 1930, that during the year four interim dividends, aggregating 12 per cent., have been paid on the ordinary shares, and there is now an available balance of £26,967 19s 6d, made up as follows: —Net profits for the year, £1,074,----672 6s lOd; less preference dividend for the year, 6% per cent., £96,507 ss, less four interim dividends on ordinary shares, aggregating 12 per cent., amounting to £976,135 Is 8d; adding amount brought forward from the last balance-sheet, £27,----667 19s 4d, leaving a balance of £29,697 19s 6d to carry forward. The above figures do not include the company's interest in the undivided profits of. the subsidiary companies. "Whilst the rate of dividend has been maintained for the year under review," the directors explain, "the subsidiary companies are naturally feeling the effect of the depression through which Australia is passing. The, country has required further revenue and the tobacco industry has been called upon to shoulder a very heavy additional burden. The increased cost of the subsidiary companies' products, brought about by the added duties, is having its inevitable effect on sales, and consequently on earnings." The balance-sheet shows issued capital £1,484,727,! in preference shares, and £8,134,459 in' .ordinary shares; creditors and credit balances, £3029 10s 6d; profit and loss,1 £29,697 19s 6d. Assets include shares' in subsidiary companies at cost, £7,722,192; stocks in Comniomvoalth of Australia at cost, £345,050; debtors and debtors' balances, £1,571,202 17s; cash at bankers, £13,468 5s lid.