UNION CARB. BONUS ISSUE
Third In Four Years (N.Z. Press Assn.—Copyright) SYDNEY, Feb. 6. Union Carbide Australia, Ltd., proposes to make its third apd biggest bonus share issue in less than four years. The 60 per cent United States-owned company continues to report striking progress in sales and profits, in its half-yearly report today to December 31. Indications are that the annual net profit rate is running at a rate of two-and-a-quarter times as high as four years ago.
The intrinsic earning rate on capital actually subscribed by shareholders has risen by the same amount
The previous two bonus issues, each one-for-16, were made in 1964 and 1965.
The present proposal is for a one-for-five bonus issue to shareholders at March 4 (ex bonus February 29).
The combined effect of the three issues will be to raise Union Carbide’s ordinary capital by 45 per cent in the four years—from $4,302,000 to about $6,245,000. In the meantime, the nominal dividend rate has risen from 10 to 14 per cent, and the company announces that the 14 per cent will be maintained after the proposed bonus. As a result, the actual dividend payment rate will have risen by 103 per cent in four years, but the company’s retained cash flow also is rising markedly.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19680208.2.159
Bibliographic details
Press, Volume CVIII, Issue 31598, 8 February 1968, Page 15
Word Count
212UNION CARB. BONUS ISSUE Press, Volume CVIII, Issue 31598, 8 February 1968, Page 15
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in