Ak. Gas record and 1:5
PA Auckland Auckland Gas Company, Ltd, which has reported a record profit of $2,037,000, has declared a one-for-five bonus share issue. Directors have also recommended a 0.5 c higher final dividend of 4.5 c (9 per cent) tax free, making a total pay-out of 8c (16 per cent). The final dividend will be paid on July 19. The bonus issue will be made tax free from capital reserves. New shares qualify for the final dividend. Directors say they are confident, given satisfactory economic conditions, that the dividend rate will at least be maintained on increased capital. The previous dividend rate was 7.5 c (15 per cent). The unaudited result for the March 31 year was up 29.3 per cent. Provision for tax was $1,617,000 (1983: $1,246,000) and depreciation charges $1,484,000 ($1,276,000). Sales of natural gas increased 17.7 per cent to $34.5M.
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Press, 18 May 1984, Page 8
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146Ak. Gas record and 1:5 Press, 18 May 1984, Page 8
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