COMPANY AFFAIRS.

Auckland Star, Volume LIX, Issue 119, 22 May 1928, Page 4

COMPANY AFFAIRS.

WILSONS (N.Z.) CEMENT, LTD. DIVIDEND OF 10 PER CENT. The tenth annual report of Wilsons (N.Z.) Portland Cement, Limited, to be presented at the annual meeting of shareholders on June 11, states that the net profit for the year, after making ample provision for depreciation, bad debts and taxes, is £88,245 7/5. The balance brought forward from last year was £57,420 18/2 and of this amount £30,000 was absorbed in the payment of the interim dividend, leaving £115,666 5/7 available for appropriation.

The directors recommend that this should be disposed »f as follows:—Payment of a dividend at the rate of 10 per cent per annum, absorbing £60,000, less the interim dividend of £30,000 distributed last November; transfer to reserve account, £25,000, leaving a balance of £60,666 5/7 to be carried forward.

The retiring directors are Messrs. T. Simson, G. Winstone and H. B. Williams, who are eligible and offer themselves for re-election.

Following ie a comparison of the company's results for the last three years:— 1925-26 1926-27 1927-28 £ £ £ Brought forward 52,801 54,212 57,421 Net profits ... 86,411 88,208 88,245 , 139,212 142,421 145,666 Dividend, 10 p.c. 60,000 60,000 60,000 To reserve 25,000 25,000 25,000 Carried forward 54,212 57,421 60,666