I. W. Dow to pay 8.25 c after good year
Ivan Watkins-Dow, Ltd, increased audited group net profit 25.0 per cent to $2,098,000 in the year to December 31, after sales revenue rose 16.0 per cent to 527.3 M.
Net profit on sales rose from 7.2 per cent to 7.7 per cent. The directors are recommending a final dividend of 4.75 c a share making a total of 8.25 c for the year (16.5 per cent), compared with 7.0 c a share last year. “Of the total final dividend it is proposed that a tax-free distribution of 4.5 per cent be paid from realised capital profits, and the balance from the share premium account (also tax-free in shareholders’ hands) unless shareholders have elected otherwise. The proposed dividend/distribution is covered 3.8 times as compared with 3.7 times last year. The final divldend/distribution will be made on April 26. The profit for the year was after providing $59,000 less for tax at $898,000. The earning rate on shareholders funds rose 1.0 per cent to 19.9 per cent, and earnings per share rose from 25.5 c to 31.4 c.
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Press, 23 February 1978, Page 22
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186I. W. Dow to pay 8.25 c after good year Press, 23 February 1978, Page 22
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