Reid sets record
Reid Farmers, Ltd, the Otago stock and station firm, earned a record group net profit of $1,249,000 in the year to June 30, up 2.5 per cent on the previous corresponding period, the directors announced yesterday.
The chairman, Mr R. R. Hudson, said that the result was pleasing considering it had been a difficult year. There had been a tight control on expenditure, and the subsidiaries, Stringer and Co., Ltd, and Reid Farmers Finance, plus associate companies, had performed well.
The result was after providing $21,000 less for tax at $738,000. A steady annual dividend rate of 25c a share (25 per cent) has been recommended, the maximum perniitted under the dividend freeze regulations. The dividend is payable on October 26, ex dividend on October 13.
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Press, 2 September 1983, Page 8
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129Reid sets record Press, 2 September 1983, Page 8
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