N.Z. FARMERS' CO-OP.
GROSS PROFITS INCREASED
The New Zealand Farmers' Cooperative Association of Canterbury, Ltd., earned gross profit of £217,319 for the year ended July 31, 1937, compared with £179,115 for the previous year. The net profit was £47,074, against £46,450 a year ago. The directors propose to take £10,000 out of the net profit as a special taxation reserve fund, and to allocate the balance of £37,074 as follows: To payment of a dividend of 4i per cent, on first preference shares, £6750; to payment of a dividend of .4 per cent, on "A" preference shares, £8000; to payment of a dividend of 4 per cent, on "B" preference shares, £3440, making a total dividend payment of £18,190. The remaining balance of £18,884 is to be applied to reduction of the deficiency shown in the balance-sheet.
Professor A. H. Tocker has been nominated to a vacancy on the board caused by' the death of Mr. A. F. Carey. Net'profit, £47,074; dividend (per cent.), first pref. 4J, "A" pref. 4, "B" pref. 4, dividends (amount) £18,190. Provision is made for reduction in balance-sheet deficiency.
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https://paperspast.natlib.govt.nz/newspapers/EP19370910.2.153.15
Bibliographic details
Evening Post, Volume CXXIV, Issue 62, 10 September 1937, Page 12
Word Count
184N.Z. FARMERS' CO-OP. Evening Post, Volume CXXIV, Issue 62, 10 September 1937, Page 12
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