PACIFIC BUILDING, LTD.
NO DIVIDEND PROPOSED. The directors of tho Pacific Building, Ltd., in their report 'for the year ended May 31. recommend that no dividend bo paid this year. In each of tho last two years the company has paid a dividend of 4 per cent. Tho report says the year has been one of considerable difficulty. Owing to adverse times concessions have had to bo made to tenants and rentals have had to be further reduced as there is a considerable surplus of oflico accommodation, which has resulted in a general reduction of nflico rents. The gross receipts in rents and rates were £9638, as against £11,054 in tho previous year; expenses woro £7978, as against £8128,' leaving u not profit of £1660, us against £2926. The directors have appropriated £992 to reserves, as against £lOOl last year, and the amount carried forward is increased from £169 to £836.
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Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20600, 26 June 1930, Page 7
Word Count
151PACIFIC BUILDING, LTD. New Zealand Herald, Volume LXVII, Issue 20600, 26 June 1930, Page 7
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