KUALA LUMPUR DIVIDENDS

Evening Star, Issue 22025, 10 May 1935, Page 7

KUALA LUMPUR DIVIDENDS

At the conclusion of the annual meeting of shareholders of Kuala Lumpur Tin.N.L.,' held in Melbourne last week, the chairman (Mr_ Ambrose Pratt) announced that a dividend of 6d a share had. been declared, payable in Australian currency on May 24.■ Transfer books of the company will be closed on May 17. It was almost certain, said- Mr Pratt, that' the company would be able to pay .four dividends of 6d ' a share each year. In the last year- the larger, or No. .2, „ dredge of the company had been iii operation, and had been functioning satisfactorily. The dredge was quite capable of producing all of the tin oxide permitted under the restriction quota allotted to the company ; con- . , sumption of fuel appeared to be excessive, and it was probable that steps would he taken to remedy this defect. Production quotas .allowed to the company in the year ended September 30,1934, had varied from 25 per cent, to 37$ per cent, of assessed production. In the current financial year the quota had been 30 per cent, in the first quarter, when 54$ tons had been produced ; 28.3 per cent, in the second. * quarter, when 60$ tons had been won; and in the current quarter it was 32.4 per cent. Production had been Jn excess of the quota allowed, indicating the ability of the dredge to cope g with the position. The fluctuations in the quota reflected credit,oh the man--agers of the international restriction plan, as by this means they had ! been able to maintain tin at a comparatively, stable price for the period. The cpm- , pany had worked only 22 acres in the year, and had 1,000 acres to. be dredged, of which 819 acres should be profitable, while the remainder would be profitable if tin realised a fair price.