Jarden’s div. 170p.c.
PA Wellington Jarden Corporation, Ltd, Wellington-based merchant banker and property owner, plans to split its 10c shares into one cent units.
Accordingly its 1c a share dividend, announced yesterday will be a 100 per cent dividend. Jarden announced a profit of $2,156,000 for the year to March 31, compared with $716,000 last year.
Jarden’s profit before tax was $3,293,000 ($1,261,000) but this was reduced by a write-down of fixed interest stock to market value, which took $1,803,000 (nil). No tax was paid. Indeed there was write back of a deferred tax provision of $316,000 which was added to profit (last year $545,000 was paid). Minorities took $478,000 (nil) but profits from associated companies, including
$340,000 of revaluation earnings, added $828,000 (nil). Each 10c share will be split into 10 shares of one cent. The final dividend of lc a share tax-free will be paid on July 8, and will give a total dividend for the year of 1.7 c a share or 170 per cent.
Discussing its Otago mining venture, Jarden said that drilling at Macraes continued to yield promising results.
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Press, 14 May 1985, Page 28
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184Jarden’s div. 170p.c. Press, 14 May 1985, Page 28
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