TNL raises final div.
The directors of TNL : Group. Ltd, have recommended an increase in the final dividend from 3c a j share to 4c a share (8 per ’( cent) after group net profit rose 49.6 per cent to $3,560,000 in the year to June 30. The result includes $546,000 of equity profits ($67,000 previously), they say in a preliminary report. The directors also announce a one-for-six renounceable rights issue at par for ordinary and preference shareholders. Entitlement papers will be posted in November, and application moneys will be payable in full in February, 1978. The latest result represents a return on average net shareholders’ funds of 17.3 per cent (16.3 per cent), and maintains the I five year average. Shareholders’ funds in- ! creased from $17.1M to | $23.9M. The increased final dividend, 1.5 c a share of which is tax-free, raises the annual rate from 6c a share to 7c a share (14 per cent).
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Press, 26 August 1977, Page 10
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155TNL raises final div. Press, 26 August 1977, Page 10
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