MTR SPECS RECORD

Press, Volume CXIV, Issue 33626, 30 August 1974, Page 12

MTR SPECS RECORD

Div. held at 13 p.c. iv Z. Press Association) AUCKLAND. Motor Specialties Industries Ltd. increased group net profit 5390.456 or 42.8 per cent to a record $1,301,794 in the year to June 30, the directors say in a preliminary report.

However, the dividend rate is being held at 13 per cent with a steady final dividend of 7 per cent, payable October 31. ex-dividend October 14.

The dividend is payable on capital increased by the one-for-10 bonus issue in August, last year, and is equivlent to 14.3 per cent on pre-bonus capital. The bonus shares participated in last year’s final dividend and meant that last year’s rate was 13.7 per cent on pre-bonus capital. The shares from the one-for-10 cash issue in January receive the final dividend.

Recently the company expanded and strengthened the engineering side of its activities with the acquisition of Precision Machinists, Ltd, I Feilding. The company makes 'high quality gears and i sprockets. Fishing Board post I (N.Z. Press Association) WELLINGTON. Mr N. E. Jarman had been appointed assistant general manager of the Fishing Industry Board, the board announced. The appointment will take effect early next month. Born and educated in Christchurch, Mr Jarman studied at the University of Canterbury and the University of Otago, and has a B.Sc. in biochemistry.

Mr Jarman has represented the meat industry at Codex Alimentarius meetings in London and Copenhagen.