200 PER CENT. FOR YEAR
DENNIS BROTHERS Dennis Brothers, English manufacturers of motor vehicles, have declared a final dividend on the Is ordinary shares of Is 2d a share, making Is 6d for the year ended 30th September. This is equal to 150 per cent., compared with 133-} per cent, for the previous year. Shareholders also received a special non-recurring bonus of 6d a share, equal to a further 50 per cent., out of a surplus on assets realised. The unusually large percentage rate of distribution made for some years past by Dennis Brothers is due to the very small amount of the company’s nominal capital. In 1927-28 the company decided to distribute to its shareholders by way of special repayment part - of its large accumulation of surplus liquid assets. As a result of this policy the nominal and issued capital was reduced from £500,825 to £75,124. Even after so large a repayment the company was left witli ample resources, and according to the balance-sheet at 30th September, 1934, the total of the general reserve and “carry-forward” amounted to £760,619, or more than 10 times the present issued capital.
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https://paperspast.natlib.govt.nz/newspapers/NEM19360106.2.100
Bibliographic details
Nelson Evening Mail, Volume LXVI, 6 January 1936, Page 8
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189200 PER CENT. FOR YEAR Nelson Evening Mail, Volume LXVI, 6 January 1936, Page 8
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