VICTORIA FALLS PAY DIVIDENDS

Evening Post, Volume CXVI, Issue 65, 14 September 1933, Page 14

VICTORIA FALLS PAY DIVIDENDS

The mighty fulls oC the Zambesi, one o£ the wonders of the world, ate not allowed to be idle but are returning substantial dividends to shareholders in the Victoria Falls and Transvaal Power Co., Ltd. Profits for 1932-33 were £400,210 after allowing for taxation; 10 per eeut. was paid on preference shares and 15 per. cent, and a bonus of 5 per cent, on ordinary shares out of the balance of exchange; £50,000 was added to reserve, bringing it up to £750,000, and £276,763 carried forward; also £253,500 in debentures had been drawn for redemption during the year. The chairman (Mr. A. 33. Hadley)i at the meeting of the company held in London last July, said: The electrical demand for all purposes had now reached 281,000 k.w., and there'were still demands notified to come on, also prospective demands for new de.velopine.nts and further expansion as a result, of South Africa going oft" gold. The policy of the mining industry regarding new developments seemed at present somewhat uncertain,, since tho new taxation policy was made known. As the possibilities of extending the present generating stations were limited, designs for other extensions, including probably a ne\v power station, were actively in hand, The electric supply is furnished by. five. stations with an installed capacity .of 390,000 k.w. Ths units sold during -the year shoved an increase of 7% per' cent. Reductions in rates for current were under consideration. .