Allen Ind. Dividend Steady; 1:5 Bonus
Allen Industries, Ltd, the Auckland manufacturer of calendars, and advertising novelties, and distributor of selfadhesive tape, plans to make a one-for-five bonus issue of shares, directors announce.
As well, a final dividend of 5 per cent has been recommended out of capital reserves, maintaining the total dividend of 10 per cent established in 1967.
The final dividend will thus be tax free to shareholders. The bonus issue will rais» ordinary capital by $95,000 to $570,000. A one-for-four bonus issue was also made in May, 1965, and this increased capi tai by $94,000 to $475,000. In the year to December 31, 1966, the profit of $137,172 covered the dividend payment of $47,500 2.9 times. The payment date for the dividend and the entitlement date for the bonus issue have not yet been announced. Listed 1962 The company was listed in 1962 after a public issue of 100,000 100 c shares. The dividend was 8 per cent from 1963 to 1964. was then raised to 9 per cent in 1965 and for the nine-month trading period in 1966 before being raised to 10 per cent in 1967.
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Press, Volume CVIII, Issue 31662, 24 April 1968, Page 22
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191Allen Ind. Dividend Steady; 1:5 Bonus Press, Volume CVIII, Issue 31662, 24 April 1968, Page 22
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