Dairy Company Dividend Insufficient For Shareholders?
That a 2i per cent dividend on paidup share capital was insufficient remuneration for shareholders was the opinion expressed by Mr O. V. Adlam at the annual meeting of suppliers to the Maungatapere Co-op. Dairy Co., Ltd., on Thursday. It was the recommendation of the directors that this dividend should be paid, but Mr Adlam considered that shareholders, especially those who had assisted in the founding of the company, were entitled to ,a higher rate of intei’est. When he moved an amendment to this effect, however, the chairman, Mr L. Reynolds, moved the procedure out of order, as the dividend had been fixed by the directors under the Companies’ Act. and could only be decreased. not increased, by the annual meeting.
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https://paperspast.natlib.govt.nz/newspapers/NA19390722.2.76
Bibliographic details
Northern Advocate, 22 July 1939, Page 7
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127Dairy Company Dividend Insufficient For Shareholders? Northern Advocate, 22 July 1939, Page 7
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