Selby bonus after record year

Press, 8 April 1978, Page 16

Selby bonus after record year

The Selby Shoe Co, Ltd, increased sales 20 per ! cent, and unaudited net profit increased 24 per cent to a record $109,133 in the year to January 31. The profit was after viding $525 more at $73,425 for taxation, which takes into account a taxation benefit of $9713 arising from the trading stock adjustments. The directors recommend a return to the pattern of distribution to shareholders ruling prior to the Limitation of Distribution Regulations, which restricted dividend payments in the . previous year. ■ An increase in nominal capital from $300,000 to SIM, and a one-for-three bonus issue is planned, ex bonus May 19. An 8 per cent final dividend for the year is to be paid on the capital in« creased by the bonus issue, payable May, ex dividend May 19. Current forward orders are good, and unless there is a serious long-term economic downturn future dividends will be maintained at at least 15 per on the new issue capital, the directors say.