Record year for F.T.C.; 8c dividend
I PA Auckland j The Farmer’s Trading Co, Ltd, increased audited group ' net profit 45.9 per cent to a record $4,496,034 in the year to March 31, and proposes to raise its final dividend 0.5 c to 5.5 c a share (11 per cent). The dividend will be paid; from the share premium account, on July 13, making! it tax-free. Shares will be! ex dividend on June 22. I Shares issued in the one-] for-five bonus issue in December qualify for the final I dividend. The total dividend for the year is increased from 7,5 c to 8c a share. Sales in the last year were ; also a record and reached 5125.5 M, an 18.5 per cent improvement on the prejvious year.
The chairman (Mr R. H. Busfield) said that provision for deferred profits, and interest on time payment debtors was $1,789,641 before tax (last year $715,538). The provision for tax has more than doubled to $3,795,100 compared with $1,440,328 last year when the Stock Valuation Adjustment applied.
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Press, 26 May 1979, Page 18
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174Record year for F.T.C.; 8c dividend Press, 26 May 1979, Page 18
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