WEIGHT, STEPHENSON, AND CO.

Evening Post, Volume CXXXII, Issue 42, 18 August 1941, Page 3

WEIGHT, STEPHENSON, AND CO.

In their thirty-fifth annual report the directors of Wright, Stephenson, and Co., Ltd., state that the profit and loss account (mcluding £64,804 5s 9d brought forward from last year) shows a credit balance of £100,579 8s 2d, from which has been deducted the interim dividend for the six months enaed December 31, 1940, paid on January 31 last, £13,127 9s, leaving a balance for distribution of £87,451 19s 2d. Out of this sum the directors recommend that, after making the fixed payment of 2i per cent, for six months on the preference shares, a dividend of 2& per cent, be paid on the ordinary shares which, with the 2£ per cent, paid on January 31 last, makes the dividend 5 per cent, for the year. It is also recommended that £3726 10s be transferred to dividend equalisation reserve, making the total £50,000, and that £41,867 2s 7d be transferred to general reserve, making the total £70,000, leaving £28,730 17s 7d to be carried forward. The dividend will be payable at the close of the annual meeting on August 26. Messrs. R. S. Abraham, D. Allan, and J. S. Hunt are the retiring directors and they offer themselves for re-elec-tion.