CHRISTCHURCH GAS COMPANY
Sir, —In your issue df today under the above heading, a statement is made of a proposed dividend of 4 per cent, —last year 2J per cent.; previously 1 per cent. The directors’ annual report, which arrived today, includes a directors’ proposal to increase directors’ fees from £llOO to £l6OO p.a.— nearly 50 per cent. The shareholders have received scanty returns In their investments for many years. As directors are evidently unable to earn a reasonable dividend on funds entrusted to their care, is it fair for them to bring forward a proposal to increase their fees?—Yours etc., SHAREHOLDER. February 11, 1953. [The chairman of directors of the company (Mr F. E. Graham) had no comment to make when this letter was referred to him.]
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Bibliographic details
Press, Volume LXXXIX, Issue 26972, 23 February 1953, Page 2
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128CHRISTCHURCH GAS COMPANY Press, Volume LXXXIX, Issue 26972, 23 February 1953, Page 2
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