D.R.G. raises div. rate
The directors of D.R.G. (New Zealand), Ltd, have raised the annual dividend rate from 5.5 c a share (Il per cent) to 6.25 c a share (12.5 per cent), after group net profit rose 14.3 per cent to sl.2m in the year to December 31.
“The improved performance was achieved despite increasing costs and price controls over a wide range of the group’s products,” they say in a preliminary report.
“Rigid control of working capital together with the cash flow from successful trading has benefited liquid resources.”
Sales rose 11 per cent compared with the previous year.
The profit was after providing SI 59,397 more for taxation at Sl.Om. The final dividend of 3.75 c a share (7.5 per cent), recommended by the directors, is an increase of 0.75 c a share (1.5 per cent) on the previous year.
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Press, Volume CXVI, Issue 34128, 14 April 1976, Page 25
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143D.R.G. raises div. rate Press, Volume CXVI, Issue 34128, 14 April 1976, Page 25
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