C.R.A. PROFIT DOWN BUT DIV. STEADY
(N.Z. Press Assn. —Copyright) MELBOURNE, March 15. Conzinc Riotinto of Australia Ltd. is holding ordinary dividend at 16 per cent in spite of a slight decline in group profit in 1966. Earnings are down from a peak of 12,874,932 dollars to 12,163,433 dollars—in line with directors predictions in their interim report. The results of the big base metals, aluminium, iron ore, oil exploration and indus-
trial complex were announced by directors last night. Earning Rate
The profits equals 30.6 per cent on ordinary capital increased by the three for 10 bonus in December. This compares with 42.1 per cent in 1965 A steady final dividend of 9 per cent is payable on April 27, out of tax free funds. Because this payout goes to bonus shares, dividend requirement is up from 4,751,774 dollars to 5,713,497 dollars. Provisions Depreciation jumped from 2,758,722 dollars to 4,140,611 dollars and tax fell from 8,072,698 dollars to 6,259,072 dollars. The profit represents 9.7 per cent, against 10.9 per cent, on shareholders’ funds of 124.86 m dollars (118.28 m dollars).
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Press, Volume CVI, Issue 31320, 16 March 1967, Page 26
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180C.R.A. PROFIT DOWN BUT DIV. STEADY Press, Volume CVI, Issue 31320, 16 March 1967, Page 26
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