N.Z. AND EIVEE PLATE
CHAIRMAN REVIEWS ACCOUNT
The possibility of the directors omitting payment of an interim dividend in the succeeding year was mentioned at the annual meeting of the New Zealand and River Plate Land Mortgage Company, Limited, which was held in London last month. Mr. A. M. Mitchison,'chairman of directors, said the accounts for the year were the worst submitted for many years. Mr. Mitchison referred to the low prices received for agricultural and pastoral products affecting earnings in Argentina and to difficulties experienced in releasing funds held there. He said that a moratorium law affected the company's River Plate mortgages, and under the circumstances it was impossible to make any estimates of the immediate prospects of future dividends.
"We do not feel justified in recommending more than a final distribution of 2 per cent., and we should never have paid an interim dividend of 3 per cent, had we anticipated a moratorium would be imposed." said Mr. Mitchison. "As it is, we are diminishing our carry-forward by £6374. Unless there is an improvement in the position before June, it is quite likely that we will not pay an interim dividend, but will wait until the final accounts are available."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19340227.2.131.15
Bibliographic details
Evening Post, Volume CXVII, Issue 49, 27 February 1934, Page 12
Word Count
202N.Z. AND EIVEE PLATE Evening Post, Volume CXVII, Issue 49, 27 February 1934, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in