PREFERENCE SHARES
RIGHT OF DIVIDEND COMPANY IN LIQUIDATION. Par P-eoe Anaac’ntlon DTJNEDIN, December 8. An application was recently made in the Supreme Court by the New Zealand Hardware Co., now in liquidation, for a decision as to whether preference shareholders were entitled to have arrears of dividends paid up. Mr Justice Sim ruled that the articles of association gave preference shareholders the right of dividends in winding up. He considered the articles should be construed as giving preference shareholders the right to he paid the amount which they would have been entitled to as dividends out of the profits while the company was a going concern, md there been sufficient profits to admit of a dividend in each year.
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Bibliographic details
New Zealand Times, Volume LII, Issue 12315, 9 December 1925, Page 6
Word Count
119PREFERENCE SHARES New Zealand Times, Volume LII, Issue 12315, 9 December 1925, Page 6
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