PETROCHEM. LIFTS DIV.
Profit Rises ' 45 p.c.
(N Z. Press Assn.—Copyright) SYDNEY, September 9.
Petrochemical Holdings, Ltd., has raised its dividend after a 45 per cent boost in profit in the year to June 30. The company, a partlyowned subsidiary of Boral, Ltd., supplies feed stock to gas producers, including Australian Gas Light, and to others, including Shell Chemical.
Profit for the latest year is 579.587 dollars (equal to 22.7 cents a 2 dollar share (11.4 per cent), and compares with 398,424 dollars (15.6 cents) in the previous year. 45 p.c. Holding
The year’s result includes a steady dividend of 67,500 dollars received from the 45 per cent holding in Australian Petrochemicals, Ltd. —producer of styrene monomer (used to make plastics). It remains after a substantial lift in tax provision and higher depreciation. Payout for the latest year is 16 cents a share (8 per cent), including a final payout of 9 cents a share.
In the four previous years, the distribution was 12 cents a share (6 per cent).
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Bibliographic details
Press, Volume CVI, Issue 31161, 10 September 1966, Page 18
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170PETROCHEM. LIFTS DIV. Press, Volume CVI, Issue 31161, 10 September 1966, Page 18
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