N.Z. BREW. ISSUE
Dividend Raised
(N.Z. Press Association) WELLINGTON. May 16. Director* of New Zealand Breweries are recommending an increased dividend, and a cash issue of shares at a premium. Recommended final dividend is 3fd a 5s stock unit, payable on July 25 ex July W. This will make sjd far the year, dr 9 1-6 per cent., compared with 8 1-3 per cent, last year. Directors report that sales for the year were the highest yet. Consolidated profit for the year ended March 31 last year is expected to be approximately £ 100,000 more than last year’s £730.377. Paid capital is to be increased by a cash issue of one for 10 shares held at July 25. at a premium of 2s 6d a stock unit. The new shares are payable 5s on application by October 31 and 2s 6d on allotment. It is proposed to allot the shares on June 2, 1963.
The new shares will participate in full in the final dividend in respect of the vear ending March 31. 1963. The issue is subject to the consent of the Capital Issues Committee.
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Bibliographic details
Press, Volume CI, Issue 29824, 17 May 1962, Page 17
Word Count
185N.Z. BREW. ISSUE Press, Volume CI, Issue 29824, 17 May 1962, Page 17
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