Company Newt N.Z. SHIPPING ACCOUNTS
Div. Steady, Profit Up (N.Z. Press Association! WELLINGTON, Feb. 28 The directors of the NewZealand Shipping Company. Ltd., London, are recommending an ordinary dividend of 8d in the £ (unchanged) free of income tax The company says in a statement issued in Wellington that after charging taxation and transferring to reserve the tex relief on investment allowances, the consolidated net profit attributable to the company is £751,010 (£685,042, or 2.7 per cent, in 1960). The shipowning subsidiaries included in the consolidated figures are the Federal Steam Navigation Company. Ltd., and the Avenue Shipping Company, Ltd. Group net profit was £8041206 (£787,425 in I 960). This was after deduction of £ 138.076 (£ 239.541) United Kingdom tax including transfers to or from tax equalisation account, £64.693 <£77.618> New Zealand tax. and £595.519 (£580.490) tax saving on investment allowances transferred to reserves. After £l9 203 (£52,455) retained profits and £23.993 (£49,928) dividends have been deducted as attributable to the New Zealand Shipping Company, the appropriations are £139.958 (£158.663), retained by subsidiaries. £290.332 (£195,659), retained by the New Zealand Shipping Company, £8331 (unchanged) preference dividend, and £322.389 (unchanged) ordinary dividend
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19620301.2.186
Bibliographic details
Press, Volume CI, Issue 29760, 1 March 1962, Page 17
Word Count
189Company Newt N.Z. SHIPPING ACCOUNTS Press, Volume CI, Issue 29760, 1 March 1962, Page 17
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in