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CAPITAL CHANGES PROPOSED A proposal that ordinary capital shall be increased and that to enable this to be done arrears of preference dividend for 1931, 1932 and 1933 and part arrears for 1939 and 1940, should be foregone, is to be placed before shareholders of North Auckland Farmers' Co-operative, Ltd, Whangarei, on July 25. In a circular the company's manager, Mr. T. Mitchell, states for many years the directors have been concerned about the inadequate ordinary share capital. Unless the company received a clearance from preference shareholders in regard to arrears of dividend, he said, it coula not issue more ordinary capital. Total capital is £97,197, comprising 10.C00 A preference shares of £1 each, 63,315 B preference shares of £1 each, and 59,707 ordinary shares of ay each, representing £23,882 of ordinary shares capital. All shares are fully paid up. There has been no dividend on ordinary shares since 1920. On the preference shares the company has been paying a dividend of 5 per cent (less security taxes) in recent years.

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Bibliographic details

N. AUCKLAND FARMERS, Auckland Star, Volume LXXVI, Issue 166, 16 July 1945

Word Count

N. AUCKLAND FARMERS Auckland Star, Volume LXXVI, Issue 166, 16 July 1945

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