Bing Harris Profit And Dividend Up
(N.Z. Press Association)
WELLINGTON, March 13. Bing Harris and Company Ltd., the Wellington-based wholesale warehouseman and clothing manufacturer, raised its profit 5.5 per cent, in its latest year to December 19.
The dividend will be raised from 7i to 8 per cent. Announcing the results, subject to audit the chairman (Sir Jack Harris) says the company experienced successful trading during 1967. Group profit for the year rose $12,904 to $245,712. The recommended final dividend of 4 per cent will require $66,581. It will be paid out of realised capital profits from the sale of properties and therefore will be non-assessable and liontaxable so that it will be free of tax liability in thfe hands of shareholders. Half Tax-free
Of the year’s total dividend of 8 per cent, half will be free of tax.
The dividend takes into account the change to decimal currency and is slightly higher than for the previous year. The dividend will be paid on April 24.
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Bibliographic details
Press, Volume CVIII, Issue 31628, 14 March 1968, Page 16
Word Count
166Bing Harris Profit And Dividend Up Press, Volume CVIII, Issue 31628, 14 March 1968, Page 16
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