P. AND O. ACCOUNTS
10 PER CENT DIVIDEND. The P. and O. Company had a divisible surplus of £400,746, and the dividend has been maintained at 10 per cent., although the directors appear to have been in doubt whether they should have retained it at that rate. As a reduction from 12 J per cent, to 10 per cent, took place in 1924-25, another cut in the dividend would not have been very welcome to shareholders. The only justification for the payment is that the board, led by I.ord Inchcape, when times were favourable for shipping, created internal reserves which not only permit shareholders now to receive a fair return upon the capital of the company, hut also enable the company to maintain a highly efficient service in different quarters of the world. A further allocation of £274,687 to the fund for the redemption of debentures also indicates that the directors intend to continue providing for obligations of the kind upon a substantial scale.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MT19261214.2.62.2
Bibliographic details
Manawatu Times, Volume XLXI, Issue 3480, 14 December 1926, Page 11
Word Count
164P. AND O. ACCOUNTS Manawatu Times, Volume XLXI, Issue 3480, 14 December 1926, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in