PERPETUAL TRUSTEES, LTD

Sun (Auckland), Volume III, Issue 678, 1 June 1929, Page 12

PERPETUAL TRUSTEES, LTD

DIVIDEND OF 15 PER CENT. (From Our Own Correspondent) DUNEDIN, Friday. The annual report of the Perpetual Trustees, Estate and Agency Company of New Zealand, Ltd., states that the amount brought forward from the previous year was £4,621, from which has since been paid income tax for that year interim dividend and the company’s contribution to the staff benefit fund, leaving a balance of £1,735. The profit for the year just ended amounts to £5,193, and the available balance is, therefore, £9,928, which the directors now recommend be dealt with as follows:—To payment of a dividend on paid up capital £20,000 at 15 per cent. per annum, £1,500; to the reserve fund to pay a bonus dividend of 2s a share, to be applied in meeting a call of a similar amount, £2,500; to staff benefit contribution, £750; to provision for Christchurch branch, £300; to carry forward to next year (subject to income tax for year just ended), £4,878. Sir George Fenwick and Mr. E. C. Hazlett are the retiring directors and both being eligible offer themselves for reelection. The company has issued 25,000 shares which are paid up to 16s, of which Ss 6d represents payment from reserves in 1917, 1920, 1923 and 1926. With the present bonus distribution, the capital will be £22,250, in addition to which there are a general reserve of £17,500 and the balance of undivided profits, £4,S7S, the latter being subject to income tax. A dividend of 15 per cent, has been paid regularly.