Canty Roller plans 2:3 bonus
Canterbury Roller Flour Mills Company, Ltd, is planning a two-for-three bonus issue, after doubling its net profit in the year ended December 31. The scrip issue will increase capital from $120,000 to $200,000. In a brief report the directors say that the audited net profit was $64,676, compared with $32,811 last year, after providing twice as much for tax — $54,013 compared with $27,445. Sales increased from $1,144,986 to $1,258,028. The company will call an extraordinary general meeting of shareholders on April 24 to seek approval for the bonus issue. The directors are recommending an unchanged dividend of 15 per cent; however, this will be paid on the capital after the bonus issue — making the effective dividend on the old capital 25 per cent. It is payable on May 9; shares to become ex bonus and dividend on April 28.
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Press, 26 March 1980, Page 19
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144Canty Roller plans 2:3 bonus Press, 26 March 1980, Page 19
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