Dividend rate raised
(N.Z. Press Assn—Copyright) SYDNEY.
Perpetual Trustees Australia, Ltd, is raising its annual dividend rate by 1 per cent for 1974-75, after an unexpected upturn in the second half of the financial year, the directors say. The group’s consolidated'net profit rose 45.1 per cent to $A691,886 to June 30.
Had tax effect accounting not been introduced, profit would have increased only 17.8 per cent to $561,575 the directors say.
The directors said in February that they did not expect a recovery in the second-half of the financial year, after announcing a 19 per cent fall in profit for the half-vear to December 30. The improvement had resulted from the containment of expenses and an increase in revenue in the final six months.
A final dividend of 7.5 per cent will be paid to shareholders making a total of 14 per cent for the year.
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Bibliographic details
Press, Volume CXV, Issue 33929, 23 August 1975, Page 19
Word Count
146Dividend rate raised Press, Volume CXV, Issue 33929, 23 August 1975, Page 19
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