PREFERENCE SHARES.
CANTERBURY MEAT COMPANY.
COURT ORDER MADE
The Canterbury Frozen Meat and Dairy Produce Export Company, Limited has decided to pay to preference shareholders an extra 1 per cent 011 preference shares for the years 1933, 193-1 and 193 a. In a circular issued to preference shareholders the directors state that following inquiries made into the question ot the legality of paying the full 6 per cent preference dividend, instead ot the o P« cent, as prescribed by the National .Lxpenditure Adjustment Act, 1932, the facts were placed before the Supreme Court. An order was later received stating that the company should pay to preference shareholders sums which will restore the company's preference dividends tor IJAJ, 1934 and 193.5 to 6 per cent, ihe order also stated that the preference dividend should be maintained as long the ordinary dividend was not below o per cent.
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Bibliographic details
Auckland Star, Volume LXVII, Issue 139, 13 June 1936, Page 4
Word Count
146PREFERENCE SHARES. Auckland Star, Volume LXVII, Issue 139, 13 June 1936, Page 4
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