ADELAIDE STEAM DISTRIBUTION

Press, Volume CIII, Issue 30369, 19 February 1964, Page 19

ADELAIDE STEAM DISTRIBUTION

Interim Dividend 31 Per Cent (N.Z. Press Assn.—Copyright) MELBOURNE, February 18. The Adelaide Steamship Company, Ltd., has confirmed last year’s lift in the annual dividend rate from 6J to 7 per cent by increasing the interim distribution for the current year to 3| per cent. Directors report that group net profit for the December half-year had risen slightly on the result for the first half of the previous year. They said Associated Steamships the company formed by the merger of the interstate shipping fleets of Adelaide Steam and Mcllwraith McEacharn was settling down smoothly. Bulkships, Ltd., in which the two companies together have a 93 per cent interest and which operates interstate ore carriers, had traded satisfactorily, directors added.

E. W. Airlines Plan Issue

(N.Z. Press Assn.—Copyright) SYDNEY, February 17. East West Airlines plan a par issue of 125,000 ordinary £1 shares “to meet the growth and further expansion of the company.” Announcing this today, the directors say the new shares will rank equally with existing shares for the dividend for the year to June 30, 1964. A parcel of 5000 shares has been reserved for allotment to employees they say. Earnings for the current year show an improvement on those for the corresponding period of 1962-63. Dividend on capital increased by the par issue will be “at least equivalent to that paid last year,” the directors say.