Auckland Gas bonus
Auckland Gas Company Ltd, has announced a healthy profit increase, a higher final dividend and a one-for--10 bonus issue. The unaudited profit for the year ended March 31 was $167,443, or 29.5 per cent, higher at $736,000. The tax provision was $134,000 higher, depreciation up $55,549 at $486,000 and deferred charges were unchanged at $200,000. Sales were $2,347,264, or 21.9 per cent, higher.
The directors are recommending a one-for-10 bonus issue the bonus shares to rank fully for the final dividend of 7.5 per cent. The bonus issue would be from capital reserves. The final dividend makes a total for the year of 13.5 per cent (last year 13 perl cent) equivalent to 14.25 per< cent on pre-bonus capital. ; It is payable on August l;j ex dividend and bonus July] 16; of the payment 4.5 c will be tax-free.
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Press, 7 May 1980, Page 23
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142Auckland Gas bonus Press, 7 May 1980, Page 23
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