PROFIT LIFT BY PATERSON

Press, Volume CIII, Issue 30452, 28 May 1964, Page 19

PROFIT LIFT BY PATERSON

Dividend Also Higher (N.Z. Press Association) WELLINGTON, May 27. Group net profit of A. S. Paterson, Ltd., Wellington, merchants, was lifted to more than £70,000 in the year to Match 31, according to a preliminary statement This result after deducting minority interests and subject to audit, compares with £54,545’ the year before. Directors recommend a final dividend of 5 per cent. This, along with the 3 per eent interim already paid, makes 8 per cent for the year, against 7 per cent the year before. This requires a distribution of £45,029. Final dividend will be paid on July 24, the day of the annual meeting, and the ex dividend date is July 14. Cyclone Ind. Bonus (N.Z. Press Association) WELLINGTON, May 27. Further details of Cyclone Industries, Ltd., Christchurch, proposed one-for-four bonus issue of 5s ordinary shares were announced todgy, according to the Stock Exchange Association. The meeting will be held on July 24, and transfers will be accepted up to 5 p.m. on July 16. The register will reopen on July 17. Existing shares are ex dividend on July 17. The bonus is based on pre-1957 profits. Ex bonus date is July 17. M. Foy’s Profit Again Eases Mark Foy’s, Ltd., Sydney retailer, suffered a further profit decline in the year to February 29 and has again reduced its dividend. Final dividend is 2} per cent, which with the reduced interim of 41 per cent makes 6j per cent for the year (previous year, 12J per cent). Directors say they believe an Increase in dividend iqpy be possible when the 1964-65 result is available. Group net profit for 1963-64 fell by £7620 to £53,376. Bid For Rootes Denied In U.K. (N.Z.P.A,-Reuter—Copyright) LONDON, May 26. New rumours of a takeover bid for Rootes Motors, one of Britain’s leading car manufacturers, lifted the company’s shares £1.25m on the London Stock Exchange today. A Rootes spokesman said: “There is no truth in it. There is no question of any talks or any approach.” Chrysler and British Motor Corporation were both mentioned as possible bidders, but each company said there was no truth in the rumour.