“Press” dividend tax-free after 55p.c. profit rise
The directors of The Christchurch Press Company, Ltd, propose a tax-free dividend of 7.5 c a share, after group net profit rose 54.9 per cent to $1,071,515 in the year ended March 31. The dividend, the first taxfree payment — subject to approval by the High Court and to there being no change in taxation legislation — by the company, will be paid on the shares issued in December, and takes $168,815, compared with $153,469 last year. Total dividend rate for the year is unchanged at 12.5 per cent. The bonus shares issued in
April do not qualify for the final dividend. Trading in the second half of the year was particularly buoyant, the directors say. Sales increased 27.0 per cent to almost $lB million. The depreciation charge more than doubled, from $191,026 to $415,992, and profit before tax was 62.7 per cent higher at $1,955,497. The result, which is audited, was also after providing $373,844 more for taxation at $883,982 and after allowing $197,517 more for interest and leasing charges at $330,320. The dividend will be paid on July 16.
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Press, 14 May 1982, Page 20
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186“Press” dividend tax-free after 55p.c. profit rise Press, 14 May 1982, Page 20
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