20 per cent dividend by Pacer
PA Wellington The finance company. Pacer Corporation, has reported an audited net profit of 5345,881 for the year to March 31. The directory Jiaye. recommended a 20 per cent dividend, or 5c a share for the six months to March 31 — double the dividend rate forecast when Pacer went public last September. The directors said the increased dividend was forecast to be maintained for this year. Both the profit result and level of activity were ahead of September forecasts. The profit represents an after-tax return of 36.8 per cent on the average shareholders' funds of 5938.000 for the year. It was achieved by paying no tax and by providing for extraordinary items of 52500. Shareholders’ funds increased to 5119 million byMarch 31. "Given the rapid changes in the financial markets during the period, it is particularly pleasing that targets and forecasts have been exceeded,” the directors said.
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Press, 29 May 1985, Page 35
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15320 per cent dividend by Pacer Press, 29 May 1985, Page 35
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