SOUTHLAND MEAT

Evening Post, Volume CXIX, Issue 35, 11 February 1935, Page 12

SOUTHLAND MEAT

' DIVIDENb 16 PER CENT.

(Uy I'elearaph— l'rera Association.; '■ ; INVERCARGILL, February 9 c sPeakmg at the annual meeting of the southland Frozen Meat Company the chairman, Mr. John Gilkison, said that the company's properties and plant had been increased by over, £20,000, and new premises were in the course of erection to replace old premises whieh> had been written A further investment was a freehold purchase comprising 2600 acres for which the company ! had the necessary capital for development. Further additions to buildings and plant at Makarewa would be completed in six weeks.

The item of the investments, was greater by £25,000, The total shown, £167,000,_ was conservatively estimated, the holding of Government stocks alone being £160,000. Out of the amount carried forward last year £38,000 on interim dividends, of 7% per cent, had been paid, leaving £29,500 to be added to the net profit of £22,000. The directors recommended a further dividend of 8% per cent., making 16 per cent, for the year, leaving a balance to carry forward of £41,900.