GOLDEN BAY CEMENT CO.
INCOME TAX EXCEEDS DIVIDEND The accounts of the Golden Bay Cement Company, Ltd., show that the 6 per cent, dividend recommended will require £4349, while provision for income tax will take £4BBO. Profit for the year ended June 30 amounted to £12,070 16s sd, after making provision for depreciation. The directors recommend that a dividend at the rate of 6 per cent, on the paidup capital of the company be declared. This will absorb £4349, and the provision for income tax will amount to £4BBO. After allowing for these two amounts, a credit balance of £3384 will be carried forward in profit and loss account to next year. During the year the chairman (Mi. J. M. A. Hott) left on a business trip to England, and during his absence Mr. C. N. Cathie carried out the duties of chairman. During Mr. Hott's absence overseas the Hon. V. A. Ward M.L.C., filled the vacancy on the board and relinquished the seat on Mr. Hott's return. Shareholders wiJ be asked to confirm Mr. J. M. A. Hotts reappointment to the board. Mr. J. S. McArthur, retiring debenture director, offers himself for re-election. Mr. P. E. Pattrick, retiring auditoi. also offers himself for re-election.
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Bibliographic details
Wanganui Chronicle, Volume 82, Issue 289, 7 December 1938, Page 8
Word Count
205GOLDEN BAY CEMENT CO. Wanganui Chronicle, Volume 82, Issue 289, 7 December 1938, Page 8
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