J. Nathan improves

Press, 26 November 1980, Page 27

J. Nathan improves

The new majority shareholders in Joseph Nathan and Co., Ltd, Tatra Industries, Ltd, will benefit from a one per cent rise in the final dividend to 9 per cent after an improved profit for the year. Tatra holds 52.2 per cent of the Lower Hutt manufacturer and importer, which increased its tax-paid profit by 37.3 per cent from $101,697 to $139,685, in the year ended August 31. Tax nearly doubled from $62,433 to $111,962, but depreciation remained steady at $31,645, compared with $30,002 in the previous year. The ordinary capital has doubled after the conversion of 300,000 debentures, and the directors say the full year’s dividend rate of 13 per cent will be maintained op the higher capital. The dividend, which is payable December 12, ex December 2, is covered 3.37 times-

At the annual meeting shareholders will be asked to approve a new structure of a holding company (Joseph Nathan Holdings, Ltd) and an operating company (Joseph Nathan and Co., Ltd), and a change of balance date. The directors of the holding company will be Messrs F. C. Mildenhal! (chairman), J. B. Steel, L. A. Cameron, F. Turnovsky and R. H. Philpott