R.M.C. DIV. PLANS
6|d After 2s Return (N.Z. Press Assn. —Copyright) SYDNEY, Mar. 12. Ready Mixed Concrete. Ltd., plans to pay dividends of 6Jd a 3s share, or 18.05 per cent, after the 2s a share capital return. The company now pays dividends of 76d. or 12J per cent, on the 5s shares. Under the proposal which was defeated at an extraordinary meeting, the company planned to pay 7d a 3s 6d share, or 16 2-3 per cent. Expansion In this week’s statement, directors say that the 18.05 per cent rate might be increased in the future “upon the progressive implementation of the group’s expansion.” The 2s a share capital return reduced paid capital by £3.3m to £4.955.850. Directors say the £3,350,000 retained from the sale of the United Kingdom interests is necessary to finance the company’s development programme and improve its earning capacity.
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Bibliographic details
Press, Volume CIII, Issue 30389, 13 March 1964, Page 18
Word Count
144R.M.C. DIV. PLANS Press, Volume CIII, Issue 30389, 13 March 1964, Page 18
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