C. WRIGHT SALMON

Press, Volume CIII, Issue 30481, 1 July 1964, Page 19

C. WRIGHT SALMON

Profit Rises, Div. Steady (N.Z. Press Association) WELLINGTON, June 30. Cory Wright and Salmon, Ltd., directors announce that they will recommend to the annual general meeting to be held on August 28 that an unchanged dividend be declared of 8 per cent on the ordinary capital of £308,000 (last year £288,000) and of 5 per cent on the preference capital of £lOO,OOO. Ex-divi-dend date is August 14. Subject to final audit the consolidated net profit before taxes for the year ended March 31, 1964, was £119,524 (last year £107,324). Provision for taxation requires £60,628 (£53,653), leaving a tax paid profit of £58.896 (£53,671). The payment of dividends will require £29,640 (£28,040) and it is recommended that £20,000 (£15,000) be transferred to general reserve and £46,942 (£37,686) be carried forward in the profit and loss appropriation account.

Business Personal

Mr H. E. B. Ward has been appointed assistant manager of the Crusader Shipping Company, Ltd., at Wellington. He joined the Shaw Savill Line in 1948, and transferred to the Crusader Line in 1961. Mr Ward Will take over his hew appointment today.

Ballins Industries.—Ballins Industries, Ltd. advises that Interim dividend will be ex on July 20 and payable on July 31. —(P.A.)

K.P.G. —Kaiapoi Petone Group Textiles, Ltd. announces that register of' convertible notes will be closed at 5 p.m. July 7 until 5 p.m. July .20, for interest, ex interest July B. (P.A.)