SPECIAL DIVIDEND
8.0.5. profit 24% higher
(N.Z. Press Association) WELLINGTON, June 13. The unaudited group net profit of British Office Supplies (N.Z.) Ltd, rose by I about $37,200 or 24 per centi to about $195,100 in the year! to March 31, the directors! say in a preliminary report. In addition to the unchanged final dividend of 9.5 c a share (9| per cent) the directors will recommend a special 40th anniversary dividend of 5c a share, half of which will come from capital reserves and be tax-free in the hands of the shareholders. Shares will be ex dividend on July 11. With these payments the total dividends for them would amount to 20c a share compared with 15c a share for the previous year. The 15 per cent dividend rate was covered 2.1 times by the latest net profit compared with 1.8 times in the previous year. The 174 per cent dividend out of revenue profits is covered 1.8 times. Total provisions were $46,403 higher. The provision for taxation was $41,039 higher at $151,252, and the provision for depreciation was increased by $5364 ■to $35,430.
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Bibliographic details
Press, Volume CXIII, Issue 33251, 14 June 1973, Page 19
Word Count
185SPECIAL DIVIDEND Press, Volume CXIII, Issue 33251, 14 June 1973, Page 19
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