S. FOWLDS PROFIT
Bonus Issue Planned (N.Z. Press Association) WELLINGTON, June 26. Seabrook Fowlds, Ltd., Auckland motor vehicle dealer, announces net profit for the year at £98,075. after providing for taxation and setting aside £20,000 for profits equalisation reserve.
Directors recommend a final dividend of 6| per cent, payable on August 12; making a total of 12J per cent for the year. Directors also recommend a bonus issue of one-for-four out of capital reserve and application has been made to have such treated as tax free. Directors say the announcement of the bonus issue should not be taken to indicate the same percentage of dividend on the increased share capital will necessarily be maintained.
The business of the Whangarei Austin dealer. CanBrothers, Ltd., has been acquired by a share exchange involving the issue of 56,000 new shares.
These shares will not participate in the 6j per cent final dividend recommended for the year ended March 21. The annual meeting of the company is August 11, but it is expected to have the annual accounts and report in shareholders' hands about the middle of July. Ex dividend date is July 28.
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Bibliographic details
Press, Volume CIII, Issue 30478, 27 June 1964, Page 16
Word Count
190S. FOWLDS PROFIT Press, Volume CIII, Issue 30478, 27 June 1964, Page 16
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