AUSTRALIAN DIVIDENDS

Evening Post, Volume CXI, Issue 40, 17 February 1931, Page 12

AUSTRALIAN DIVIDENDS

REDUCED OR PASSED

Among the Australian companies reducing dividends is Australian Gaslight Mr. G. J. Cohen, chairman, explained that the half-year just closed had clearly demonstrated the existence of an acute industrial depression, as, for the first time for many years, the consumption of gas has shown a material decrease, and the surplus profits exceeded the amount required to pay a dividend at the standard rate of 4 per cent, by some £1798 only. The directors recommended a reduction in the half-yearly dividend to 3% pelcent., and an increased, carry-forward to meet the expected lean' conditions. Gas sold during the past half-year was 7.24 per cent, less than for the corresponding period of 1929-30, aud the returns from all residuals were much reduced. Directors of Brook House, Ltd., Sydney, announce an interim half-yearly dividend at the rate of 4 per cent, per annum—a reduction on the previous rate of 8 per cent, per annum. Samuel Allen and Sons, Ltd., Queensland, pay no interim divideud this year owing to the financial stringency and the unpromising outlook for improvement. Sydney Ferries, Ltd., dividend reduced from 8 per cent, to 6% per cent, per annum.

Intercolonial Investment Land and Building Company, Sydney, interim dividend reduced from the rate of 10 per cent, per annum to IYz per cent, per annum. Carlton Brewery, Ltd., Melbourne, lias made a further slight reduction in the dividend, the rate of the final dividend being 10 per cent, per annum, which, with the interim distribution at the rate of 11 per cent, per annum, makes 10% per cent, for the year. The previous year's dividend was 14 per cent.

Hackshalls, Ltd., bread and biscuit bakers, Sydney, paid 12% per cent, for 1929, for 1930 the dividend is equal to 2 1-12 per cent. The board of Mort's Dock and Engineering Co., Ltd., Sydney, reports that no interim dividend can be declared for the half-year ended 31st December, owing to unsatisfactory result of operations.

Hydraulic Power, Electric and Hydraulic Lifts, Ltd., Sydney, dividend reduced from 6 per cent, in 1929 and 8 per cent. in 1928 to 3 per cent, for the year ended 31st December, 1930. Australian Wood Pipe Ltd., lias passed its interim dividend.

Adelaide Steamship lias declared an interim half-yearly dividend of 4 per cent., instead of 6 per cent., as at this time last year.