STANDARD INSURANCE
First Pay-out 7s In Pound (N.Z. Press Association) DUNEDIN, March 16. The first dividend to ordinary creditors of the Standard Insurance Company Ltd. will now be 7s in the pound instead of the 5s announced last year. The official liquidator Mr H. S. J. Tilly, said the increase in the first dividend did not mean, at this stage, that the final dividend would be any larger. “It simply means more funds are available at present,” he added.
Unexpected Delays “Because of unexpected delays in completing certain legal formalities, this date has had to be postponed to June 9 but we advise the rate of this dividend is now expected to be about 7s in the pound or 35 cents in the dollar. “Notice of intention to pay this will be advised shortly.” The report from the liquidators, issued today, said the fifth annual report issued last year indicated it was planned to pay the first dividend to ordinary creditors on May 1 at the rate of 5s in the £ or 25 cents in the dollar.
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Bibliographic details
Press, Volume CVI, Issue 31321, 17 March 1967, Page 16
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177STANDARD INSURANCE Press, Volume CVI, Issue 31321, 17 March 1967, Page 16
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