A PROGRESSIVE COMPANY
FARMERS' TRADING COY. INCREASED DIVIDEND At a special general meeting to be held in the Chamber of Commerce Hall on December 5, shareholders in the Farmers' Trading Company are to be asked to sanction a proposal to increase the dividend rate. In a circular, the directors state that they are desirous that shareholders sh'ould participate in the continued prosperity of the company. The proposal is to increase the dividend on both classes of preferential ?v3 ares r . on ? 6 to 7 per cent., and to lift the limit on ordinary shares from 8 per cent, to 10 per cent. It is further proposed to take away from the A preference shareholders the wide powers at present held by them in regard to the company’s authority to deal with mortgages, capital account and the general policy of the firm. Their rights will be so restricted as to deprive them of the right to vote at any meeting of the company except where their interests as to capital or dividend are prejudicially affected.
It is the intention of the directorate in the near future to place a further issue of shares to the value of £IOO.OOO on the market and to retire a like amount of debentures which at the moment are a first charge on the assets of the company.
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Bibliographic details
Sun (Auckland), Volume II, Issue 515, 19 November 1928, Page 12
Word Count
222A PROGRESSIVE COMPANY Sun (Auckland), Volume II, Issue 515, 19 November 1928, Page 12
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