I.C.I.N.Z. Profit, Payout Raised
Imperial Chemical Industries ’(N.Z.), Ltd, has raised the dividend from 9 per cent to 10 per cent, after a 12.6 per cent rise in net profit, to $1,904,299.
External sales in the year to September 30 were 13.9 per cent higher at s37m. The profit is after proportionately higher tax, and a higher deduction attributable to minority interests. It represents an earning rate of 18.3 per cent on the unchanged paid-up capital of $10,413,794, compared with 16.2 per cent the previous year. Favourable trading condiditions were experienced by the group throughout the whole of 1969, the directors reported. The 10 per cent dividend will be paid after the annual meeting on February 19; shares ex dividend January 5. The group profit before taxation rose from $3,585,881 to $4,206,702—an increase of 17.3 per cent. Payout Lifted Baillie Motors, Ltd, the Hawke’s Bay motor vehicle distributor, will pay a 6 per cent final dividend, making 12 per cent for the year to October 31, when profit was lifted by 35.6 per cent to $107,000. Last year the payout was 10 per cent.
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Bibliographic details
Press, Volume CIX, Issue 32166, 9 December 1969, Page 24
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184I.C.I.N.Z. Profit, Payout Raised Press, Volume CIX, Issue 32166, 9 December 1969, Page 24
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