COMPANY NEWS

Press, Volume XCI, Issue 27639, 21 April 1955, Page 17

COMPANY NEWS

Investment, Mortgage Dividend.—New Zealand Investment, Mortgage and Deposit recommend a final dividend o£ 3 per cent., ex May 2—CP.A.) McKenzie’s Increased Pay-out.—McKen-zie’s Department Stores recommend a final dividend of 7J per cent., plus a bonus of 2J per cent., making. 17J per cent- ior the year (against 15 per cent, last year), payable June 17, ex May 11.—(P.A’.y Auckland Merger.—Two of Auckland’s oldest wholesale firms have decided to amalgamate. They are Bond and Bond, Ltd., grocery wholesalers, and E. Ellingham and Company, Ltd. Bond and Bond’s capital is £200,000, Ellfngham’s The assets of both firms are much higher than - their respective capital. Both are family concerns.—(P.A.) Humes (Far East) Earnings.—Hume Industries (Far East), Ltd., earned a net profit iof £ 194,646 in the - year ended December 31, after tax provision of £50,083. The previous year’s profit of £17,515 was struck after tax provision amounting to £68,174. The unchanged ordinary and preference dividends of 12J per cent/absorbed £118,750. N.Z. Newspapers* Final.—The directors of. New Zealand' Newspapers, Ltd., will refcommend a final dividend.of_7d.a.share, payable on, May 19. Total/ payment for the year ended March 31 will be Is a share. The books will be closed froip May 6 to May 19, both days inclusive. Total dividend for the previous year was Is 8d a share, -but in May last, paid capital was doubled to £995,834 by the capitalisation of £497,916 of reserves.