PROFIT OF £20,125 FOR YEAR
FARMERS’ CO-OPERATIVE ASSOCIATION
The annual report of the Southland Farmers’ Co-operative Association Ltd. for the year ended July 31 records a net profit of £20,125. The balance carried forward from the previous year, plus reserves of stock less income tax totalled £7899. The final dividend for the previous year and the interim dividend for the year absorbed £4200 and £1049 was paid in the balance of income tax and Social Security tax. An amount of £10,637 is held in reserve for taxes, leaving a balance available for distribution of £10,637. The directors recommend the payment of a dividend on deposit preference shares at the rate of 5 3-5 per cent., and the payment of arrears of dividends on these shares, a dividend of 5 per cent, on preference shares and a dividend of 5 per cent, on ordinary shares. These payments will absorb £4192, leaving £6445 to be carried forward.
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https://paperspast.natlib.govt.nz/newspapers/ST19400910.2.10.5
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Southland Times, Issue 24227, 10 September 1940, Page 4
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155PROFIT OF £20,125 FOR YEAR Southland Times, Issue 24227, 10 September 1940, Page 4
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