COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 102, 3 May 1933, Page 4

COMPANY AFFAIRS.

BROKEN HILL SOUTH. DIVIDEND OF 1/ A SHARE. (By Telegraph.—Press Association.) WELLINGTON, Tuesday. Cabled advice received to-day from Broken Hill South, Limited, 'by the Stock Exchange Association, stated a dividend of 1/ a share has been declared, payable in Melbourne on June 23. This is the second distribution of 1/ a share in the current year, which ends on .Tune 30. In the previous year 10 per cent, or 2/ a share, was paid, and in 1031, 7/£ per cent. FARMERS' TRADING CO. PREFERENCE DIVIDENDS. The final dividend on Farmers' Trading Company A and B preference shares will be paid at the rate of 7 per cent per annum, less the statutory reduction of 20 per cent, on May 31. BANK OF NEW SOUTH WALES. QUARTERLY DIVIDEND. The directors of the Bank of New South have declared a quarterly dividend of 5/ a share. Australian currency. It is payable at head office, Sydney, on May 30, and at branches upon receipt of advice. The distribution is for the second quarter, ended March 31, of the bank's current financial year, and is at the same rate as that paid for the previous four quarters. KAITANGATA COAL COMPANY. Accounts of the Kaitangata Coal Company, Limited (Otago), for the year ended February 28, disclose a credit balance of £10,682, compared with £13,692 in the previous year. Income tax provision amounts to £5300, against £2500 in 1932, £3505 has been written off the development suspense account, now liquidated, and £500 has been transferred to bad debts reserve. Of £7377 available, the dividend at 2/ a share, equivalent to 12V2 per cent, absorbs £5370 10/ and £1006 is being carried forward, compared with £349 brought into the accounts. The directors comment that the year was an abnormal one owing to industrial troubles in other coal mines. The company's output had been increased considerably, the increase being reflected in reduced running charges. There were ample supplies of coal in sight. The capital of the company is unchanged at £50.964. The dividend compares with 1/6 a share paid in the past two years. WAIKATO FINANCE CO. Mr. D. Andrews presided 'at the annual meeting of the Waikato Finance Corporation, Limited, held in Hamilton yesterday. In their report the directors stated that the result of the year's operations was eminently satisfactory. The directors recommended the payment of a dividend of 5 3-5 per cent on preference shares, but 110 dividend was recommended with respect to ordinary shares. Regret was expressed _ that ordinary shareholders would receive no dividend, but the directors said they felt that the present position of the country called for a very conservative policy. The fact that securities were dropping steadily, the general unsatisfactory financial outlook, and the possibility of further legislative interfere ence in trading had influenced the directors in their decision. The directors' recommendation was adopted.