DIVIDEND FROM RESERVES.
An interim dividend o£ 4 per cent, has lieea declared by Australian Cement, Ltd. The company has advised the Melbourne Stock Exchange that the dividend of 4 her cent, declared on 23rd December, 1930, ■was not drawn from profits earned in the year ended 30th. November, but from a special reserve account, which represented profit earned by the sale of assets which were not acquired by the company for the purpose of resale at a profit. Marchant's, Ltd., Sydney, a soft drinks manufacturing company, shows a profit of £5215 for the year ended 27th May, a fall oE £5187 on that ofi the previous year. Interim dividend was & per cent., and final dividend at the same rate, making 8 per cent, for the year, and absorbing £5802. The dividend for 1929-30 was 10 percent. Profit was not sufficient to pay the. whole dividend, and the amount carrieel .forward, '£2562, was £587 less than the amount brought forward. The directors state actual profit earned on normal trading was augmented by returns from investments, and that this income permits the1 present rate of dividend being paid. The chairman (Mr. George Marchant), at tho annual meeting of the company, indicated that it was probable that no interim dividend would be paid in December nest.
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Bibliographic details
Evening Post, Volume CXII, Issue 11, 13 July 1931, Page 12
Word Count
214DIVIDEND FROM RESERVES. Evening Post, Volume CXII, Issue 11, 13 July 1931, Page 12
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