Rapid growth by Hanover
(N.Z. Press Assn.—Copyright) SYDNEY, January 24.
Hanover Holdings, Ltd, is more than maintaining its projected growth pattern by increasing net profit by 41.8 ' per cent, for the six months ' |to December 31. I It plans to double issue) 'capital with a one-for-oner ibonus issue and increase the) ) dividend rate. ' Hanover is expecting to ) earn a net profit of $2.2m ini' jthe current year. With the net earnings of $1,188,674 in the first six months it will comfortably exceed target if profit growth is maintained. The directors said in the . report that they were confi- ' dent of continued profit ] growth and financial stability. i
The one-for-one bonus will increase capital by s3.Bm. The new shares will rank equally with existing ones and participate in the interim dividend of 4-J per cent.
, The previous year’s interim dividend was 10 per cent, and since then Hanover has made a one-for-five bonus issue.
The 4.5 per cent interim dividend is equivalent to 10.8 per cent on the prebonus capital.
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Bibliographic details
Press, Volume CXIV, Issue 33442, 25 January 1974, Page 24
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169Rapid growth by Hanover Press, Volume CXIV, Issue 33442, 25 January 1974, Page 24
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