COMPANY NEWS

Press, Volume LXXXVII, Issue 26511, 28 August 1951, Page 11

COMPANY NEWS

FARMERS’ CO-OPERATIVE ASSOCIATION DIVIDENDS ANNOUNCED The directors of the New Zealand Farmers Co-operative Association of Canterbury, Ltd., have decided to recommend to the annual meeting of shareholders on October 3 payment of the following dividends for the year ended July 31:—6j per cent, per annum on first preference shares, and 6 per cent, on A and B preference and ordinary shares. These dividends are unchanged. Rebates of commission on stock of wool sold during the year on behalf of farmer clients will again be at the rate of 20 per cent, of commission earned. Rebate of commission for the year to July 31, 1952, will again be at the same rate. Whakatane Board Capital Issue Whakatane Board Mills, Ltd., will offer to shareholders 229,499 new ordinary £1 shares and 150,000 new preference £1 shares at 20s 6d each. This will bring the ordinary capital to the authorised amount of £1 000.000, and preference capital to £400,000. Authorised preference capital is £750.000. The money is required to finance proposed alterations and additions to the company's plant, calculated to increase the output of cardboard by 7000 to 8000 tons to about 24.000 tons a year. Shareholders will be told full details of the issue soon. The net profit for the year IBS1 ’ was against £75,653 the previous year. Taxation took £144,870 (£115,750). Ordinary and preference dividends are maintained at 5 per ?£47.525) T -(P.A a ) rry ‘ fOrWard ' S £86>679