COMMERCIAL NEWS IN BRIEF

Press, Volume CXVI, Issue 34100, 12 March 1976, Page 11

COMMERCIAL NEWS IN BRIEF

Bon us adrocnted Mr W. G. T. Wiggs, a 'Wellington solicitor who is |a candidate for the AMP 'board of directors, wants policyholders in New Zealand to receive terminal boinuses, as policyholders in 'Australia have for the past eight years. Policyholders fail to get the benefit of the inflated values of the society’s investments in land and shares, which are kept by the society as reserves, Mr Wiggs says.

S. atifl H. optimistic

The group net profit of Stocks and Holdings. Ltd, property investor, rose only sAust3iOO to $2.2m in the six months to December 31. \ But, the directors have increased the dividend on the 'assumption that with the expected improvement in the economy the 1975-76 profit will be better than the previous corresponding period. The interim dividend was raised from 10 per cent to 12 5 per cent. Firth share scheme I Firth Industries. Ltd. has (issued to employees approx. 89,000 shares under its i employee share scheme. Present allocation approved (by shareholders allows the company' to go to 100,000 shares, and it will seek approval at the next annual (general meeting to increase J this by' a further 50,000 'shares. Lumley does well Reflecting the improved fortunes of the insurance industry' since Cyclone Tracy, ;the group net profit of Edward Lumley. Ltd. rose 168.3 (per cent to sAust2.7m in the (six months to December 31. iln the previous corresponding period, the group earned (only sl.om. because of the impact of the cyclone. A (steady interim dividend of 7.5 per cent has been declared. i Crothall declares dir.

Crothall and Co, Ltd, have declared a second interim dividend of 3.25 cents per jshare on the ordinary share capital of the company to be ' paid out of capital reserves I arising from the sale of I shares, and taxfree in the ■ hands of shareholders on March 29, 1976. This divi- , dend is equivalent to 6.5 per I cent in respect of the twelve ■months trading to 31 October 1975. As the balance [date of the company has ■been changed to March 31 a final dividend will be considered at the annual general .meeting ex div March 16. 11976.