Alliance plans 1:4 bonus

Press, Volume CXIII, Issue 33386, 19 November 1973, Page 19

Alliance plans 1:4 bonus

(N.Z. Press Association) WELLINGTON, Nov. 16. Alliance Textiles, Ltd, will make a one-for-four bonus issue on holdings on February 14, 1974. The issue will be made from capital reserves and will be tax-free :in the hands of the shareI holders. The new shares will participate in all future dividends, including the final dividend for the year to October 19, 1973, which the directors recommend will be 3.5 c a share. This makes the dividend rate for the year 14.75 per cent on the old capital. Current results enable the directors to indicate that providing there is no serious disruption to the economy, future dividends will be at the rate of 12 per cent on the increased capital. Ao Wei pa refinery Comalco, Ltd, says it has dropped plans to build an [ alumina refinery at Waipa, in Northern Queensland. Instead. an alumina plant based on Weipa bauxite may be built “in another country in the South-East Pacific region.” Comalco’s chairman : (Mr D. J. Hibberd) said the company was still hoping to build an aluminium smelter at Gladstone in Central Queensland. Possible participants in the Weaipa project had spent two days reviewing studies made over the last four years. Their conclusion ' was that the project would be uneconomic under present conditions.