Giant Passes Final Div.

Press, Volume CIV, Issue 30916, 24 November 1965, Page 27

Giant Passes Final Div.

(N Z. Press Association) WELLINGTON, Nov. 23. Giant Industries, Wellington paint manufacturer, will pass its final dividend for liquidity reasons. Last year’s dividend was reduced to 7 per cent from 8 per cent- in 1963 and an interim dividend of 1} per cent was paid early in June Directors say a small profit was made for the year.

Take-over By C. A, Odlin (N.Z Press Association) AUCKLAND, Nov. 23. C. and A. Odlin, Timber and Hardware Company, Ltd., Wellington, has taken over the Rotorua sawmill of Bay Ply Company, Ltd., along with substantial timber grants held by the Bayten Timber Company, Ltd., near Ruatahuna in the Urewera court try. The cost of the purchase was mainly met by the issue of 50,000 10s ordinary shares. The company recently announced the purchase, through a subsidiary, of Piesse Timbers, Ltd., Christchurch, in a deal involving the issue of 100,000 shares.

N.Z. Reserves £70.3m.

(N.Z. Press Association) WELLINGTON, Nov. 23. Net overseas assets of the New Zealand banking system on November 10 were £70.3m, compared with £71.7m on November 11, 1964, and £64.6m on November 13, 1963. These figures were announced today by the Reserve Bank. This year’s figure includes a £22.3m drawing from the International Monetary Funa