2ND DOMINION UNIT TRUST

Press, Volume CII, Issue 30278, 2 November 1963, Page 16

2ND DOMINION UNIT TRUST

Higher Payment To Holders

(N.Z. Press Association) AUCKLAND, Nov. 1

The directors of the Second Dominion Unit Trust expect to be able to make a higher payment for the year ending March 31 than the 12s 6d a 100 units paid last year. The interim payment, for the six months ended September 30, has been raised from 5s 3d to 6s a 100 units of 5s each The increase in investment income was expected to continue during the second half of the year. The market value of the trust’s investment portfolio rose from £36,333 to £43.741 during the six months due mainly to a rise in the holding of New Zealand stocks from £25,793 to £32,762. Australian Hopes Australian investments rose slightly, from £10,540 to £10,979, showing that, in spite of the high quality of the shares held and the hopes in the Australian market, it had yet to produce the degree of appreciation so confidently predicted. The portfolio consisted of 74.3 per cent New Zealand issues (70.6 per cent on March 31) and 24.9 per cent (28.8 per cent) Australian shares. Holdings in Ampol Petroleum and Pacific Forests had been sold, and new investments made in N.Z Breweries, U.E. Box and Seabrook Fowlds. Holdings in NZ Forest Products and L. D. Nathan had been increased.

Regent Motors. Regent Motors (Holdingsl. Ltd., will pay a steady 10 per cent dividend following a substantial lift in profit from £48,102 to £70.600 (subject to audit) for the year to June 30 Profit was after providing taxation of £37,900 (previously £32.440) and depreciation, £17.400 (£16.569). The final dividend of 5 per cent will be paid on November 27 (NZPA, Melbourne. Nov. 1.)