SHARLAND & CO., LTD.

Evening Post, Volume CXXVIII, Issue 107, 2 November 1939, Page 16

SHARLAND & CO., LTD.

DIVIDEND AS BEFORE

The report of the directors of Sharland and Co., Ltd., for the year ended August .31, 1939, shows that, after providing for all bad and doubtful debts, land, income,; and Social Security taxes, depreciation, and taking stock at cost price or market value, whichever is the lower, there remains a balance of £10,259 6s Id, made up as follows:— Balance brought forward from previous year, £9320 13s sd; profit for the year ended August 31, 1939, £850r 2s 8d; total £17,821 16s Id.. From this has to be deducted provision for land, income,, and Social Security taxes, £4750: interim dividend 24 per cent., paid May 10, 1939, £2812 10s. The net amount available for distribution is £10,259 6s Id. It is proposed to pay a dividend of 4g per cent, per annum on both preference and ordinary shares, £5937 10s, less interim .dividend as above, £2812 10s, leaving a balance to be carried forward to next year, £7134 6s Id. The thanks of the shareholders are accorded to the statt generally for efficient services during the year. The retiring director, Mr. V 'J. Lamer, offers himself for reelection. The auditors, Messrs. Pattrick, Feist and Jack, Wellington, Messrs. A arid j; Grierson and Browne, Aucklahd, and Messrs. W. E. C. Reid and Co., Dunedin, also offer themselves for re-election.

The dividend of 43 per cent, is equal to 5 per cent., being free of Social Security tax.