N.Z.M.C. NET UP 4 P.C.

Press, Volume CXII, Issue 32861, 9 March 1972, Page 20

N.Z.M.C. NET UP 4 P.C.

Dividend held steady (N.Z. Press Association) . WELLINGTON, March 7. . The New Zealand Motor Corporation, Ltd, earned a net profit of $2,913,000 in the year to October 31—an increase of $115,000, or 4 per cent, compared with the I annual rate for the previous fifteen month psriod. for which a profit of $3,497,000 was reported. A final dividend of 5c a share (5 per cent) will be paid to shareholders on the register on March 17, ex dividend March 14. This will make an unchanged dividend for the year of 9c a share (9 per cent).

The dividend pay-outs require $1,170,000 and are covered 2i times by the net profit. The date for the annual meeting has not been fixed because of the need to coordinate the complex legal requirements which result from N.Z.M.C.’s acquisition of the assets, business, and goodwill of the British Leyland Motor Corporation’s New Zealand group, the chairman (Sir Walter Norwood) said. The meeting is expected to be held during April and the date will be announced as soon as possible.