Chenery pays more
PA Auckland Chenery Holdings Ltd, is raising the dividend on bonus increased capital after earning a 2.3 per cent higher group net profit to $287,842 in the year to March 31. The dividend rate has been raised from 10 per cent to 11 per cent (11c a share), an increase that crimes after the previous year’s 1 per cent higher payout. The new rate is the equivalent of a
12.8 per cent payment on capital before the one-for-six bonus made last August.
The profit was after tax of $156,526, compared with $106,300 previously
The earning rate on capital is up from 2,3.3 per cent adjusted for the bonus to 23.9 per cent. A recommended final dividend of 7 per cent is payable on July 27, ex dividend on July 13.
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Press, 15 June 1979, Page 6
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133Chenery pays more Press, 15 June 1979, Page 6
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