Q.B.E. Ins. 1:5 bonus issue
j NZPA Sydney I QBE Insurance Group, Ltd, has declared a one-for-five free scrip issue after (profit increased 38.1 per cent in the June 30 year. The profit rose from $3.4M to $4.7M on an 11.6 per cent rise in premium earned from $91.6M to $102.2M. The directors have revalued the holding company’s investment in QBE Insurance Ltd, by $4.5M.
A final dividend of 5c a share has been recommended on the increased capital giving an annual dividend of 11c a share on the pre-bonus capital compared with 7.5 c last year. The group's underwriting deficit was reduced from $4.5M to $4.2M. Investment income rose from SB.3M to $10.2M.
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Press, 20 September 1978, Page 20
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114Q.B.E. Ins. 1:5 bonus issue Press, 20 September 1978, Page 20
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