SYDNEY DIVIDENDS LESS

Evening Post, Volume CIX, Issue 117, 20 May 1930, Page 12

SYDNEY DIVIDENDS LESS

Anthony Hovdern and Sous, Ltd., the great Sydney department stores, will pay a final dividend of 3 per cent, on ordinary capital, making 7 per cenjt. for the year, •compared-with 8 per cent, .paid in the previous twelve months. Disclosed net proiits were £257,050, contrasting with £270,404 in the previous year and £267,714 in 1927-28. Profits were ample to have enabled the former rate of dividend to be maintained, but the directors wisely decided to follow a conservative policy. Directors of Australian Banner Knitting Co., Ltd., have decided to defer payment of interim dividend for the quarter ended 31st March until July, when they anticipate making payments ,for two quarters to 30th June. Peters Arctic Delicacy, Ltd., Sydney, an ice-cream enterprise, earned during their last year. £15,992. Dividend was reduced to 5 per cent., although prospects would have permitted payment of 10 percent. Reserves were brought up to £45,204 by addition of £5455, dividend absorbing £7537 Country Producers, Sydney, woolbrokers, passed their usual bonus to constituents, on account of the fall in wool. Directors stated that when conditions become normal they hope to resume their 20-year-old policy of annual refunds to supporters and to restore the dividend rate to 10 per