45 PER CENT DIVIDEND.
COAL COMPANY’S RECORD PROFIT In view of the coal barons’ offensive to reduce wages in the coal mining industry, the report of the vale of Clwydd Coal and Brick Co.. Ltd., for the period ending December 30 last makes interesting reading, says Mr V. Molesworth. Labour M.L.A. for Cumberland, N.S.W. Its net profit for the year was £27,027. It declared a dividend of 30 per cent., absorbing £27,000. But the dividend rate was actually much greater. Three years ago the Company’s capital was £60,000. It then paid 10 per cent dividend, but its reserves were so large that in 1920-21 £30,000 worth of shares were issued to tho shareholders free, making the capital £90,000. So that the dividend declared the other day, while 30 per cent on paper, was in actual hard cash 45 per cent.
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Grey River Argus, 7 June 1922, Page 3
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14045 PER CENT DIVIDEND. Grey River Argus, 7 June 1922, Page 3
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