SIR W. R. MORRIS
DIVIDEND OF £200,000 WHOLE StW TO CHARITY Sir William R. Morris, head of Morris Motors , (1926) Ltd., referred in a speech at Plymouth early in April to an announcement that he at last proposed to take a dividendj amounting to £200,000, from the firm. This sum was described in the annual report of the firm as a 10 per cent, dividend, free of tax, Sir William having, during its first three years, enabled the company to build up a reserve fund of £2,000,000 by agreeing to forego dividend on the £2,000,000 of ordinary capital; which he holds.
"That sum of £200,000," said Sir William, "has been allowed because I have not enough ; to pay the charitable institutions whq are looking to me. "The ;whole of the money will go'to charitable institutions of the country." Sir William holds all the ordinary shares of the firm. The amount of dividend he could have taken in 19i28 was about £1,000,000, and in 1927 he sacrificed £725,000. The net profits of the firm last year were £1,285,181, compared with £l,314,089 in 1928.
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Nelson Evening Mail, Volume LXIV, 29 May 1930, Page 2
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182SIR W. R. MORRIS Nelson Evening Mail, Volume LXIV, 29 May 1930, Page 2
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