DIVIDEND RESUMED

Evening Post, Volume CXXII, Issue 149, 21 December 1936, Page 16

DIVIDEND RESUMED

FREEZING COMPANY'S YEAR

The North Canterbury Sheepfarmers' Co-operative Freezing Export and Agency Company, Limited, earned a net profit of £4643 for the year ended September 30, 1936, compared with £6193 in the previous period. A dividend of 3 per cent.—the first since 1927 —is recommended. Last year a debit balance in the ; appropriation account had to be met, but this years profit, though lower than that of the previous period, is unencumbered, and together with the balance brought forward gives a total available of £6018. Depreciation absorbed £3627, and income tax provision £2200, before the profit was struck. Weather conditions resulted in a decrease in killings, states the report, for the fattening of stock in North Canterbury was adversely affected. The retiring directors are Messrs. Colin Mclntosh and J. W. Black, of whom the latter is not seeking re-election. Mr. Mclntosh and Mr. E. P. H. Burbury are the only nominations for election.