ARREARS OF DIVIDEND.
A SCHEME DRAWN UP. LOAN AND MERCANTILE COMPANY. United Pres: Assn.—Elec. Tel. Copyright (Received August 6, 11.25 a.m.) LONDON, August 5. The directors of tho New Zealand Loan and Mercantile Agency Company, Ltd., have drawn up a scheme to deal with arrears of dividend on the 6£ and 5 per cent, preference shares. They propose to pay in cash the arrears and the year’s dividend to June, 1937, on the 5 per cent, shares, and to cancel the arrears on the 0* per cent., also the current dividend, and convert this class of capital Into ordinary stock. The second preference holders will receive £70,000 in cash and £250,000 worth of ordinary shares, which the existing ordinary shareholders will provide by surrendering a fourth of their holdings, and they will also surrender another quarter for cancellation. The scheme will enable dividends to be paid far sooner than is at present possible.
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https://paperspast.natlib.govt.nz/newspapers/WT19370806.2.67
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Waikato Times, Volume 121, Issue 20265, 6 August 1937, Page 7
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153ARREARS OF DIVIDEND. Waikato Times, Volume 121, Issue 20265, 6 August 1937, Page 7
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