LANE’S IND. ISSUE
12 p.c. Dividend Forecast Directors of Lane’s Industries. Ltd., newly-formed public company to take ever Lane's Hosiery. Ltd., Levin, forecast a dividend of 12 per cent, which would be covered twice by current earnings. As announced, the company will make an issue of 120.000 5s shares followed by a private placement of the same size. Both the issue and the placement will be made at a premium of 5s a share, free of brokerage and stamp duty. The placement is underwritten. After the issue, paid capital will be £ 180,000. Asset backing is 6s 5d a share. Net profit in the last three years lias risen from £16,934 to £44,352 and has averaged £30.390. Profit in 1962-63 would represent 24.6 per cent on the increased capital and profits in 1963-64 should be as good as those for last year, directors say. The 12 per cent dividend would require £21,600. The issue will open on November 25. minimum parcels being 200 shares.
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Bibliographic details
Press, Volume CII, Issue 30289, 15 November 1963, Page 23
Word Count
163LANE’S IND. ISSUE Press, Volume CII, Issue 30289, 15 November 1963, Page 23
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