Lusteroid share split
Lusteroid Holdings, Ltd, the Auckland paint coatings manufacturer, is to split its 100 c shares into 50c units.
The tightly-held shares are selling at 380 c, and the directors say the move will help marketability. Lusteroid is paying a steady interim dividend pf 10 per cent after a 21 per cent net profit increase to $252,000 in the six months ta September 30. • The result was achieved on outside sales 30.5 per cent 1 higher at $3.6M, and does not include any equity profits. The provision for tax is $35,000 higher at $205,000. The interim dividend is payable on December 18, and if Court approval is received in time it will come from the share premium account.
The dividend requires $17,795 more at $86,652, reflecting the one-for-four bonus in July, but shares, issued in the recent premium issue do not qualify for the interim.
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Press, 26 November 1980, Page 27
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147Lusteroid share split Press, 26 November 1980, Page 27
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