No Final Dividend

Northern Advocate, 23 August 1945, Page 2

No Final Dividend

(Special). AUCKLAND. This Day. In view of the disastrous fire in July, the directors of K.D.V. Boxes, Ltd., are not recommending a final dividend. They state that, although the company earned sufficient during the year ended June 30 to make a final payment of 4 per cent, they consider that any dividend should be withheld, at any rate until the costs of reinstatement cun be definitely asertr- ; rained. Net profit for the year ended June was £4563, against £4178 in the previous year.s. Total profits before taxation were £15,5G4 on a turnover of £122,782 (against £152 177), which was deemed very satisfactory. Taxation would again be heavy, accounting for £II,OOO of that profit. After allowing for the interim dividend of 3 per cent paid in February and £IOO loss on three Government loans, the balance of profit. £2763, is added to the carry forward, increasing it to £5326. Grey and Menzies After writing off £255 loss on realisation of Government loan Grey and Menzies. Ltd., showed a net profit of £2186, a reduction of £1736, for the year ended June 30. To maintain the same dividend of 8 per cent on preference and ordinary shares the carry-forward has been reduced by £253 to £1963.