Selby plans bonus
The directors of the Selbj’ Shoe Company, Ltd, have recommended a one-for-four tax-free bonus issue from the property revaluation reserve. In addition,. the final dividend of 8c a share (8 per cent) is payable on the bonus issue. The unaudited group net! profit rose 81.2 per cent to $224,447 in the year to January 31, according to the directors in a preliminary report.
I The result was achieved on a 28.9 per cent increase jin sales, they said. .The profit was after providing $91,417 more for tax at $194,854, a write-off of $3358 (nil prevoiusly) on trademarks, and capital profits. of $5OOO ($9986) on the [sale of assets. The recommended final dividend of 8c a share makes a steady annual rate of 16c a share (16 per cent) on the pre-bonus capital.
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Press, 1 April 1980, Page 20
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135Selby plans bonus Press, 1 April 1980, Page 20
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