Loan, Merc. Dividend

Press, Volume C, Issue 29516, 18 May 1961, Page 19

Loan, Merc. Dividend

Directors of the New Zealand Loan and Mercantile Agency Company, Ltd., have declared an interim dividend of 5 per cent., according to a Press Association message frotn Wellington. Last year a steady interim dividend of 4 per cent, was paid, but the final dividend was raised from 8 per cent, to 10 per cent. < The directors say that “lower average wool prices and some seasonal and economic difficulties are likely to result in a rather lower net profit for the year ending on June 30." The interim dividend on the 51 per cent, preference stock has also been declared, Both ordinary and preference dividends are subject to deI duction of the United KingI dom income tax at 7s 9d in the £. Stock is ex dividend on May 19. and the dividends are payable on June 10. PULP INDUSTRY IN S.A. New Company Being Sponsored IN .Z .Put.- ft euttr—Copyright) ADELAIDE, May 17. The South Australian Premier (Sir Thomas Playford) predicted yesterday that a £A13.500,000 paper pulp industry would be established in South Australia within two years. He said a new company was being sponsored by four large companies, including one Canadian. The Canadian company interested is MacMillan Bloedel and Powell River, Ltd., of British Columbia. Softwood Holdings, Ltd„ which has pine forests on the South Australian and Victorian sides of the border, is involved in the negotiations.

J. Gadsden (N.Z.)—The directors announce that, in terms of the recent merger agreement. Messrs I. A. Harvey and R. Harvey, of Auckland, who are directors of Alex Harvey and Sons. Ltd., have been appointed to the boards of both J. Gadsden (N.Z.). Ltd, and J. Gadsden and Company, Ltd.—(P.A.)