A JUBILEE BONUS

Evening Post, Volume CVII, Issue 58, 12 March 1929, Page 14

A JUBILEE BONUS

KEMPTHORNE, PROSSER'S

YEAR

Directors of Kempthorne, Prosscr, and Co.'s-Ne'w Zealand Drug Co., Ltd., for the financial year ended 31st January report as follows:—Available profits recommended to bo dealt;.with £95,991 Is, including £20,181 5s 'r'.sa,.' .unappropriated balance brought forward; from prolit and loss account last'year••and. £72.80S 15s 7d the net profit-for this year. From the total £23 833.19s 4d was .paid out by way ot interim dividend the half-year _to 31st July,/at";-4.%-per cent., leaving i<a,ls7 Is Sdto be dealt .with. ..This Bum the directors propose should be applied at iollows: —Payment of a-dividend of 3% per cent., and a bonus of '2 per cent., making 10 pelcent, for the year, £29,140 13s Cd; addition to general reserve £16,000; contribution to stag provident fund-£3500; carry forward £26,516 Bs-2d. The directors also report: "Shareholders will note- that this is the fiftieth report and balance-sheet of the company, so that 1929 may be termed the jubilee year. "To mark the occasion fittingly your directors have resolved to capitalise the sum of £53,000 from; the company's reserve fund by transferring that sum to the credit of capital account and issuing to the members 2G.500 fully paid-up shares in,proportion to their'holdings as at "7th March, 1929. These shares will rank for dividend as from Ist February, 1929; Fractions will be disposed of and the net amount of proceeds paid to shareholders concerned." The distribution, if approved by shareholders at the meeting to.be held in Dnnedin on 26th March, will represent one bonus share for every ten shares-held., ' Principal items in the balance-sheets ol 1929 and 1028 compare as follow:— , ■■''■ "■ 1929. 1925. £ £ Capital paid up 529,866 529,639 General reserve '...... 137,000 137,000 Book debts reserve ... 5,360 5,301 Open accounts, bills payable, etc. 205,886 153,391 Profit and loss 75,157 58,241 Stocks ..,:,.;....!"'."7777 294,720 . 279,704 Land, buildings, plant 467,048 435,914 Book debts '°. 149,030 105,952 Bills receivable 28,223 23/779 Other open accounts .. • 17,528 13,245 Cash 16,914 25,123