U.E.B. DIV. LIFTED
Profit Rises 20 p.c.
(N.Z. Press Association)
AUCKLAND, April 22. United Empire Box Co., Auckland, is increasing its dividend from 10 to 11 per cent, after a 20 per cent jump in profit in the year to March 31.
Profit after tax was £540.000, an increase of £90,000, subject to audit, directors announced today. Sales rose £1,550,000 to £12,550,000. At the recommended increased rate, the ordinary dividend was covered 1.9 times. “The directors make this announcement at this early stage in order that a proper appraisal may be made of the share offers being made to shareholders of Steele’s Carpet Industries, and Ross and Glendining,” they say. “The recommendation of the increased dividend is made after full consideration of future dividend requirements at this rate on the increased capital which would be involved if these offers are accepted.” Profit represents an earning rate of 22.4 per cent on average ordinary capital, compared with 20.9 per cent last year.
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Bibliographic details
Press, Volume CV, Issue 31042, 23 April 1966, Page 22
Word Count
161U.E.B. DIV. LIFTED Press, Volume CV, Issue 31042, 23 April 1966, Page 22
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