Company News CHAS. BEGG
Tax Brings Rise In Dividend (New Zealand Press Association) DUNEDIN, July 3. The board of directors of Charles Begg and Company, Ltd., recommended to the company’s annual meeting of shareholders today that a bonus dividend of 2’fe per cent., in addition to the 12’fe per cent, dividend already recommended, be paid for the year ended March 31, 1958.
Making this statement in his address, the chairman (Mr H. J. Grayson) said that it was clear that shareholders would be 'called upon to pay the new tax on dividends declared today, and in the interests of shareholders the board made this recommendation.
Mr Grayson added that by this means the board expected that the majority of shareholders would find that their dividend tax liability would be offset by the additional 2’,2 per cent, bonus dividend. Shareholders could be assured that the board w?buld keep a close watch on any further developments regarding this legislation.
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Press, Volume XCVII, Issue 28629, 4 July 1958, Page 13
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157Company News CHAS. BEGG Press, Volume XCVII, Issue 28629, 4 July 1958, Page 13
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