SOUTHLAND FROZEN MEAT CO.

Wanganui Chronicle, Volume 80, Issue 34, 10 February 1937, Page 11

SOUTHLAND FROZEN MEAT CO.

DIVIDEND MAINTAINED The payment of a final half-yearly dividend of 8 per cent., making the usual 16 per cent, for the year, is recommended by the board of the Southland Frozen Meat and Produce Export Company, Ltd., in the report on the year ended December 31, 1936, which is to be submitted to the annual meeting of shareholders at Invercargill on February 17. The report states that the amount brought forward from last June was £32,786 11s 7d, and, after providing for taxation, depreciation, etc., the amount available for distribution is £46,172 12s. The final dividend will absorb £9084, leaving a balance of £37,088 12s 6d to be carried forward. The net profit for the year was £27,757 7s 2d, compared with £18,117 the previous year. The report records with regret the death in March of Mr Robert Dunlop, who was a director for 25 years and chairman for five years. The retiring directors, Messrs A. S. Holms and W. T. Hazlett, and the auditors offer themselves for re-elec-tion. The South Meat Company paid dividends of 12 per cent, in 1931 and 1932, and of 131 per cent, plus a special bonus of 25 per cent, in 1933 During the past three years the dividend has been maintained at 16 per cent.