A. Barnett joins $1M club
Arthur Barnett. Ltd, the Dunedin department store operator, joined the million dollar club in the year ended August 1, having benefited from the retail spending spree before the 1982 Budget. The group saw sales rise to $22.06M from the $20.1 IM recorded in the corresponding thirleen-month period in 1981. This produced a trading profit of $1,923,000 ($1,699,000) from which tax payable is $885,200 ($762,000) leaving a tax paid profit of $1,038,300 ($937,000). There were no capital profits this year (last year
$15,500). The directors are recommending a final dividend of 9 per cent making the total dividend for the year 18 per cent, amounting to $269,300 ($242,300). Dividends would be covered 3.9 times by tax paid profits. The directors allocated for staff profit participation 7.5 per cent of the tax-paid profit amounting to $77,900 ($70,300). The share register closes October 27-November 8 inclusive. Dividends would be posted November 8, the day of the annual meeting.
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Press, 27 September 1982, Page 26
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160A. Barnett joins $1M club Press, 27 September 1982, Page 26
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