SHARLAND'S YEAR

Evening Post, Volume CXXIV, Issue 108, 3 November 1937, Page 12

SHARLAND'S YEAR

DIVIDENDS AS BEFORE

The directors of Sharland and Co., Ltd., report for the year ended August 31, 1937, that, after providing for all bad and doubtful debts, land and income tax, depreciation, and taking stock at cost price or market value, whichever- is.: the, lower, there remains a balance of £12,025.6s 7d, made up as follows:—Balance . for year ended August 31, 1937, £10,852 3s 3d; balance brought forward from. previous year, £8798 3s 4d, making £19,650 6s 7d; less provision for ■ land and income tax, £4500, and interim dividend 2J per cent., paid May 10, 1937, £3125. The net amount available for distribution as per profit and loss account is £12,025 6s 7d. It is proposed to pay c dividend of 5 per cent, per annum on both preference and ordinary shares, £6250 (less interim dividend as above, £3125), '-£3125, leaving balance to be carried forward to next year £8900 6s 7d.

The thanks of the shareholders are due to the general manager, branch managers, and staff for their efficient services during the year. The retiring director is Mr. A. E. Mabin, who, being eligible, offers himself for reelection. ',„.!. ■' The auditors, Messrs. Pattnck, Feist, and Jack, Wellington, Messrs. A. and J. Grierson, Auckland, and Messrs. W. E. C. Reid and Co., Dunedin, offer themselves for re-election.