COMPANY AFFAIRS

Wanganui Chronicle, Volume 80, Issue 137, 11 June 1937, Page 11

COMPANY AFFAIRS

ANGLO-IRANIAN OIL CO. BONUS ISSUE AND DIVIDEND The Anglo-Iranian Oil Company, Ltd., sprang a surprise on the market when it announced a bonus issue of one new share for every two held, a final dividend of 15 per cent., making 20 per cent, for the year, and a cash bonus of 5 per cent. Last year’s dividend was 15 per cent. The company holds half the shares, less one, in Commonwealth Oil Refineries, Ltd. VVTNCHCOMBE CARSON, LTD. 100,000 ISSUE; ONE IN FIVE The directors of Winchcombe Carson, Limited, have decided to issue a further 100,000 shares of £1 each. The shares will be offered at par to existing shareholders in the proportion of | onta further share for every five shares held. Shares are to be payable 10s per share on application, and the balance by a call or calls to be made as the directors think fit. New capital is called for, the directors consider, by reason of the expansion of business. Authorised capital is £1,000,000, of which £500,000 in shares of £1 each has been isued. There will thus be 100,000 shares in the new issue, and when the application money is paid, paid-up capital will be £550,000. Last two half-yearly dividends have been at the rate of 8 per cent, per annum. COX BROS. (AUSTRALIA) PROPOSED SHARE SUBDIVISION The directors of Cox Bros. (Australia), Ltd., have convened meetings for June 8 and June 24, at which shareholders will be asked to agree to the proposal that the 500,000 £1 ordinary shares of the company, of which 81,636 are on isue, be subdivided into 2,000,000 ordinary shares of 5s each. Early this month the directors called meetings to consider the splitting of the £1 ordinary shares into four 5s shares, but as such a proposal | would alter the relative voting position of preference and ordinary shareholders, it was decided to cancel the meetings and to bring forward the proposal in Its complete form. In addition to the proposed subdivision of shares the directors propose altering the articles of association so that ordinary shareholders will have one vote for every four 5s ordinary shares held. DOMINION BREWERIES INCREASE IN DIVIDEND The directors of Dominion Breweries, Limited, notified the Auckland Stock Exchange this week that they have recommended shareholders to declare a dividend at the rate of 9 per 1 cent, per annum, calculated on the I amount paid upon all shares from time to time, of which an interim dividend of 8 per cent, per annum (for the first half of the financial year) was paid in December last. The dividend amounts to a final of 5 per cent, on the original shares, making 9 per cent, for the year ended March 31 on these shares. During the year two new issues were made to shareholders, who had the option of payment in full on application or al- I lotment, or on the stated terms 1 spreading payment over various periods. In the case of payment in full shareholders will receive dividend on their shares exclusive of premium at the rate of 9 per cent, per annum from the date of payment. Other shares will rank for dividend at 9 per cent, per annum, according to the amount, exclusive of premium, paid up from time to time. The company paid its first dividend in July, 1936, 6i per cent, being distributed for the year ended March 31 of that year on a capital of £108.519.