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Evening Post, Volume CXXVIII, Issue 103, 28 October 1939, Page 14

ANNUAL REPORT

(By Telegraph.) (Special to the "Evening Post.")

DUNEDIN, This Day,

A net profit of £38,099, as against £38,389 for last year, is reported by the Drapery and General Importing Company. The dividend has been held steady at 6 per cent, on ordinary stocks and 5 per cent, on preference shares. Included in the appropriation account is £500 for "contribution to patriotic funds." The net profit of £38,099, with £45,577 brought forward from last year, shows a total to credit of profit and loss appropriation account Of £83,676. On May 1 an interim dividend was paid on the preference shares at the rate of 5 per cent, per annum for the half year ended February 20 and this absorbed £6250, leaving £77,426 now available.

The directors recommend the following appropriations:—To payment of dividend at the rate of 5 per cent, per annum on preference shares, £6250; to dividend at the rate of 6 per cent, per annum on ordinary shares, £14,589; to addition to reserve (which will then stand at £60,000),. £9966; to allocation for contribution to patriotic funds at the discretion of directors, £500; leaving a balance to be carried forward of £46,121.