Smiths C. Market plans 1:4 issue
Smiths City Market, Ltd, plans to make a one-for-four issue at 100 c a share. The group’s turnover for the year to April 9 increased 24.5 per cent to $20.1M, and profit rose 29.6 per cent to $726,000. The figures include 12 months trading bv Paterson and Barr Ltd, and Paterson and Barr Finance, Ltd, Dunedin, as against 10 months trading previously. The directors recommend a final dividend of 7.5 c a share on the ordinary capital making a total of 13.5 c a share for the year, compared with 12c. It is intended to hold the annual meeting on September 26. The non-renounceable cash issue of ordinary shares, at par, to both classes of
shareholders, is payable m full by November 30. These shares will qualify for the interim dividend in respect of the year to April 30, 1980. It is the directors present intention to recommend that a dividend of not less than 13.5 c a share be maintained on the increased ordinarycapital. Existing shares will be exdividend on September 7, and exissue on October 16.
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Press, 2 August 1979, Page 18
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184Smiths C. Market plans 1:4 issue Press, 2 August 1979, Page 18
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