Cash, bonus issued by Credit Services

Press, Volume CXI, Issue 32524, 6 February 1971, Page 18

Cash, bonus issued by Credit Services

Credit Services Investments, Ltd, Wellington financier, will make a one-for-eight cash issue soon, and later a one-for-12 bonus issue. The company announced a profit of $287,307 for the nine months to December 31.

The chairman (Sir Peter Phipps) said that, in accordance with stated policy, the directors had declared an interim dividend for the third quarter of the financial year of 4 per cent. This makes a total of 12 per cent for the three-quarters ended December 31. The latest dividend for a full year was 12 per cent. The profit maintains the high earning rates shown in the half-yearly report. The dividend will be pay-

able to shareholders on the register at February 12; the share register will not be closed.

Sir Peter Phipps also announced that the company is to make a cash issue followed by a bonus issue, which will be made from capital reserves and, as such, will be tax free in the hands of shareholders. The cash issue (at a premium of 75c a share, payable in full on application) will be made to shareholders registered on February 12, in the ratio of one for eight.

The bonus issue will be made to shareholders registered on March 12, in the ratio of one bonus share for every 12 shares held at that date. Application will be made to the stock exchange for quotations of rights to the cash issue. New shares will qualify for final dividend declared in respect of the year to March 31. Shares will become ex dividend on February 12, and ex rights on the same date.