COMPANY AFFAIRS.

Auckland Star, Volume LXII, Issue 103, 4 May 1931, Page 4

COMPANY AFFAIRS.

IMPERIAL CHEMICALS. PAST YEAR'S OPERATIONS. The directors of this great company, says the London "Daily Telegraph," seem to have spent many hours in deliberations before the figures for 1930 were passed for publication. A final dividend is declared on the ordinary shares of 3 per cent, making a year's total of 6 per cent (last year 8 per cent). The deferred shareholders get no dividend. The net profit, at £4,473,392, is £1,306,806 less than that for 1920, and has been calculated after an allowance for obsolescence reserve by some £75,000 less than that made a year ago, and an allowance for income tax greater by some £10,000. The amount available and the allocation then are:— 1929. 1930. £ £ Net profit 5,780.208 4.473,392 Brought in 108,807 *349,926 Available 5,559,015 4,823,318 Preference dividend . 1,407,755 1,554,554 General reserve 529,020 — Ordinary and deferred dividend 3,601,317 2,615,281 Ordinary per cent . . 8 6 Deferred per cent .. 2 —■ Carry forward 350,926 653.453 *Aften deduction for further dividend payments. The increase of £303,557 in the carry forward takes the place of an allocation to general reserve. The total allocation to shareholders is £839,237 less than last year, and the allocation to reserves out of profits is £467,579 less than last year.

TAUPIRI COAL COMPANY. A dividend at the rate of 10 per cent per annum on shares in the Taupiri Coal Co., will be paya'ole on May 18. This is the same rate as has been paid each year since 1927. KUALA LUMPUR DIVIDEND. The directors of Kuala Lumpur Tin N.L., Federated Mayal States (in which there are New Zealand investors), have declared a dividend of Gd a share, payable on May 16. At the meeting of the Kuala Lumpur the chairman (Mr. A. Pratt), in announcing the declaration of a dividend, said that if the price of tin did not fall below its present level the company would continue half-yearly payments at the same rate. He said the company had a working life of 25 years. A shareholder questioned the right of the directors to lend the company's funds to other tin companies, and also expressed the opinion that some of the deposits seemed to be in jeopardy. The chairman replied that the articles of association empowered directors to lend money, and they had no doubt about the safety of it. A Shareholder: Do you think it a fair thing for the directors to reduce their fees by only £50 to £200 a year each? _ The Chairman: In our opinion the reduction ie quite sufficient.