WOOLWORTH'S PROFITS

Evening Post, Volume CXIII, Issue 40, 17 February 1932, Page 10

WOOLWORTH'S PROFITS

A 70 PER CENT. DIVIDEND

(From "The Post's" Representative.) LONDON, 14th January. In a year which, from a general business standpoint, has been ah extremely difficult one, profits of "Wbohvorth's" in England have totalled no less than £4,211,356. This huge figure is substantially i greater than the profits of £3,654,161 for, 1930, as given in the prospectus relating to the offer for sale of 4,860,000 6 per cent, preference shares at par and 2,250,000 ordinary shares of 5s each at 40s in June last. By still more does the past year's profit exceed the average profits* of the three years preceding 1931 of £3,289,489. In the "Woolworth" prospectus, issued in June last, it was stated that dividends amounting to Is 6d per share had already been paid on the ordinary shares, and that the directors anticipated the payment of a further Is 6d per share before the end of 1931. This dividend of Is 6d per share was duly paid in December. Further, the shareholders will receive another dividend of 6d per share. Thus the rate of dividend distributed .by this company during the twelve months has been 3s 6d per 5s share, or at the rate of 70 per cent. . . •' ■ . The past year's profits are Sufficient to cover the dividend on the 6 per cent, preference shares over fourteen times and are equivalent to 104 per cent, on the 5s ordinary shares after providing for the preference dividend.