COMPANY AFFAIRS.

Auckland Star, Volume LXIII, Issue 121, 24 May 1932, Page 4

COMPANY AFFAIRS.

NEW ZEALAND BREWERIES. (By Telegraph.— I"ress Association.) WELLINGTON, Monday. The directors of Now Zealand Brewer es, Limited, have decided to recommend to the annual meeting of shareholders the payment of a dividend of 4 per cent tor the period ending March 31, 1932, making 8 per cent for the ye«ir and carrying nothing to reserve. This annonncemtnt has been received by the Stock liiXchange Association of New Zealand.

The company paid a dividend of 15 per cent in 1930, and a reduction to 12% per cent was made last year. The interim dividend of 4 per cent was paid .ast December. VICTORIA NYANZA SUGAR. WELLINGTON, Monday. The Stock Exchange Association received the following cablegram to-day from the Victoria Nyanza Sugar Company:—A cable received this morning reads: Have had no further visitation ot locusts. Hatchings arc slight and are being destroyed as they appear. NORTHERN INVESTMENT. At the first annual meeting of shareholders in the Northern Co-operative Investment Trust, held yesterday, the chairman of directors. Mr. C. 11. luirness, in moving the adoption of the annual report and accounts, published in the Star on May 17, said tlie total capital might not appear large, but it had to be remembered that the accounts were for a period of only six months, part of which time was taken up in preliminary work. In view of the depression, the total capital subscribed was regarded as satisfactory, especially as no share-selling campaign had yet been undertaken. Of the total subscribed capital of £6178 15/, a sum of £5970 had already been paid up. The funds had been invested in care-fully-selected securities, and a good return secured. The trust had received deposits which, with interest accrued, amounted to £2007 19/3. They were fixed deposits for a period of two years which should assist to maintain a good dividend. No amounts had been accepted on deposit at call. A dividend of 8 per cent per annum was recommended. The annual report and accounts were adopted. There being no other nominations, the three retiring directors, Messrs. G. Winstone, A. G. Lunn and J. B. Henry, were re-elected. The shareholders' auditor, Mr. W. Perry, was reappointed.