Big Bonuses
Cheltenham Dairy Co. Has £43,000 for Distribution
HONGOTEA AND DAIRY UNION ANNOUNCEMENTS
Immediately after tlie annual meeting, which is to bo held on August 15 next, the Cheltenham Co-operative Dairy Co. will distribute £43,515 by way of a bonus to shareholders and suppliers. This announcement was made on Saturday following a meeting of the directorate when accounts were finalised.
“The final result is much better than we anticipated two or three months ago,” remarked Mr. C. G. C. Dermer, chairman of directors of the company, when seen by a “Times” representative on Saturday. "It was very pleasing to Ihc directors, when we met this morning, to learn that the final figure!' disclosed a surplus of £43,515. The distribution of this sum will, no doubt, be iifbst welcome to our suppliers and its circulation will be reflected throughout the community. We decided to doru with the surplus by allotting £S3S to supplying shareholders which represents a dividend of 4 per cent, on their share capital. The balance of £42,675 will enable the company to pay a bonus on all butter-fat supplied throughout the season of two pence and 1-16th of a penny per lb. “The season’s total pay-out,” stated Mr. Dermer, “is £206,874, which averages out a little above lOd per lb. This is 3d better than last season, but that does not say that the struggle for the dairy producer to make ends meet is yet solved; certainly a little better, but the improvement desired is a longwav off yet.”
RONGOTEA’S BONUS. In his annual statement to the directors of the Eongotca Co-op. Dairy Company, the secretary reported an output of 069 tons 16cwt. for the year ending June 30, being 34 tons less than the previous year. This was due to the dry summer. The directors have now decided the final payment of 2 l-16d per lb. on all butter-fat supplied for the year. The annual meeting of the company is to be held on August 21. DAIRY UNION BONUS.
At a meeting of the directors of the New Zealand Dairy Farmers’ Union, it was decided to pay a bonus of 21-16 d and the usual dividend on shares.
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https://paperspast.natlib.govt.nz/newspapers/MT19350729.2.40
Bibliographic details
Manawatu Times, Volume 60, Issue 176, 29 July 1935, Page 6
Word Count
362Big Bonuses Manawatu Times, Volume 60, Issue 176, 29 July 1935, Page 6
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