PREFERENCE SHARES.
CUT IN DIVIDENDS. In his annual address to members of the Auckland Stock Exchange the chairman, Mr. John Frater, referred to the 20 per cent reduction on dividends on cumulative preference shares, which was enacted as a temporary measure in 1933, has by legislation passed during the last session, been made manent. Representations were made to the Minister with a view to having a short clause inserted to read, "That in the event of the dividend paid on ordinary shares being higher than the rate on preference, the preference shareholders should have the right to participate with ordinary shareholders up to the original rate at which the preference were issued. . Mr. Frater said he considered this <J fair provision, and it was to be regretteu the suggestion was ignored.
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Auckland Star, Volume LXVII, Issue 292, 10 December 1936, Page 4
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131PREFERENCE SHARES. Auckland Star, Volume LXVII, Issue 292, 10 December 1936, Page 4
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