N.Z. AND RIVER PLATE CO.

Auckland Star, 2 January 1931, Page 4

N.Z. AND RIVER PLATE CO.

DIVIDEND OF ? PER CENT,

Last year, ending October 31. was a successful one for the New Zealand and River Plate Land Mortgage Co., states cabled advice, which has been received by the local attorneys of the firm. The net profit for the period was £118,124. and a total dividend of 9 per cent will lie recommended to be paid by .the directors of the company. At the annual meeting, to be held in London on January 12. the directors will recommend also that £10,000 be carried to reserve, and that £45,124 be carried forward. The payment of the dividends will absorb £63,000. A sum of £90,000 has been transferred from reserve to an exchange provision account, because of the depreciation of the Argentine exchange. With the addition from the past year's profits, and allowing for the exchange arrangements, the reserve fund will stand at £2.500,000. The capital of the company is £700,000. .' : Appended is a resume of the company's trading in the past three years:— 1925. 1029. 1930- £ £ £ Brought forward . 45.'359 45.793 45,910 Net profits ..... 78.404 78.117 72,214 123,793 123.910 118,124 Tn reserve • 15.000 15.000 10,000 Dividend, 9 p.c. . 63.000 63.000 , 63.000 Carried forward . 45.793 45,910 45,124 4 Tn 1923 and 1924 the dividend was 7 per cenT in 1925 7%, in 1926 8, and in 1927 8% per eent. i