Cavalier Corp, profit forecast
PA Auckland The Cavalier Corporation, Ltd, expected to earn a 1984 tax-paid profit of about $2.3M and has got the go-ahead to pay tax-free dividends, the chairman, Mr Tony Timpson, told the statutory meeting of the Auckland-based carpet company. He said: “The company’s net profit after tax projection to March 31 should be achieved
as per prospectus.” The Commissioner of Inland Revenue had confirmed Cavalier would be able to distribute S7.BM tax-free to shareholders from the share premium account. “Based on current shareholding this represents 50c a share,” Mr Timpson said. The company in its prospectus has projected an annual dividend for 1984-85 of 16 per cent.
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Press, 9 March 1984, Page 11
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111Cavalier Corp, profit forecast Press, 9 March 1984, Page 11
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