DIVIDEND

Press, Volume CIX, Issue 31989, 16 May 1969, Page 14

DIVIDEND

171 p.c. Tooth Pays More Again (N.Z. Press Association) SYDNEY, May 15. The leading New South Wales brewer, Tooth and Company, Ltd, has raised its annual dividend rate from 17 to 17} per cent—the highest for more than 40 years and the seventh successive dividend push. The company announces a record profit of $5,508,106 for the year to March 31, in spite of a sharp rise in tax and slightly higher depreciation. The profit is $6,118 up on the previous year. Taxation provision of $6.5m is once again greater than net profit, and is $523,401 up on the previous year. Depreciation is almost steady at $2,490,587. The dividend is payable on June 25; ex dividend May 21.

Clarke Board Supports Bid (N.Z. Press Association) WELLINGTON, May 15. The offer of Concrete Industries (Monier), Ltd, of $1.95 for each share in Clarke Petrous, Ltd, will be sent to shareholders registered at 5 p.m. on May 21. The Clarke directors intend to accept for their own holdings and they “strongly recommend acceptance to shareholders when the formal offers are submitted to them. In the meantime shareholders are urged not to sell their shares.” The minimum acceptance is 90 per cent or less at Monier’s option.