SHARING OF PROFITS
STATE’S SHARE MORE THAN COMPANY’S
(United Press Association)
WELLINGTON, November 29. “The sharing of profits between the company and the Government has resulted to the Government taking £555 more than our share,” declared 'Mr David Allan, chairman of directors at the annual meeting of shareholders of the Wellington Meat Export Company. “Taxation payable was £7239, or £lOB4 more than it was last year, and represented 53 per cent, of the assessable income, or 10/6;} in the £l.” The company’s next profit of £6684 was £2795 less than it was last year. It was proposed to pay a preference dividend, leaving the balance, £1426, to be applied in reduction of the debit balance to the appropriation account. The directors are still of the opinion that it would be unwise to consider the question of dividends to ordinary shareholders until that debit balance is extinguished. The report and balance-sheet were adopted.
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Bibliographic details
Southland Times, Issue 23987, 30 November 1939, Page 2
Word Count
152SHARING OF PROFITS Southland Times, Issue 23987, 30 November 1939, Page 2
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