BONUS ISSUE BY McALPINE

Press, Volume CVIII, Issue 31771, 30 August 1968, Page 14

BONUS ISSUE BY McALPINE

One For Three In October

(N.Z. Press Association)

AUCKLAND, Aug. 29. McAlpine Refrigeration, Ltd, Auckland, will make a one for three bonus issue in October, directors announced today. The issue will be from the property revaluation reserve and be tax free. This reserve stood at $82,000 in the 1967 balance sheet and has since been increased by a further revaluation. The issue will increase ordinary capital by $120,000 to $480,000.

In addition, there is preference capital of $BO,OOO. The entitlement date will be announced later. Earning Rate

At the end of 1964, the company made a one for two bonus issue. Directors said at that time that official stock exchange listing would be sought, but this has not eventuated.

At July 31, 1967, shareholders’ funds stood at $982,000. The company last year held the dividend at 10 per cent, more than three times covered by the 33.7 per cent earning rate on ordinary capital. The 50c shares sold early this month at 123 c. Vid. Laundry Profit Rise (N.Z. Press Association) WELLINGTON, Aug. 29. "Victoria Laundry Company, Ltd, Wellington, reports a 42 per cent rise in group net profit for the year to May 31. The directors announced an unchanged J 5 per cent dividend last month. The latest profit is $34,760 compared with $24,416 previously. It is reached after providing $18,147 ($21,034 previously) for depreciation and $31,497 ($21,472) tax. The dividend will require $16,740, which the profit covers 2.1 times. Dunlop Bid Succeeds (N.Z. Press Assn.—Copyright) SYDNEY, Aug. 29. Dunlop Australia, Ltd, has applied for the delisting of Prestige, Ltd, shares after reporting that holders of more than 90 per cent of the capital of Prestige have accepted their take-over offer. Dunlop is now able to acquire the remainder of Prestige shares and notices will be sent to holders.