COMPANY AFFAIRS.
NAPIER GAS COMPANY. DIVIDEND 5 PER CENT. The directors of Napier Gas Company report fpr the year ended December 31 that an interim dividend of 2% per cent per anniKu was paid last August on preference and on ordinary shares, absorbing £2617. The balance at credit of profit and loss account is £9292 15/10, compared with £7104 for 1932. Out of this amount the directors recommend the payment of a further dividend of 2Vz per cent on preference and ordinary shares, £2617, leaving a balance of £6675 15/10, out of which they propose to transfer to reserve fund (invested in plant) to bring the fund up to £6000, £2361 1/6, leaving to be carried forward £4314 14/4. The total gross revenue is practically the same as last year. Expenditure, after reserving £1300 for income tax (for which no provision was required last year), is £548 less. No dividends were paid for 1931. the year of the earthquake, and the loss by that disaster was £19,831.
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Auckland Star, Volume LXV, Issue 25, 30 January 1934, Page 8
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167COMPANY AFFAIRS. Auckland Star, Volume LXV, Issue 25, 30 January 1934, Page 8
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