COMPANY AFFAIRS

Wanganui Chronicle, Volume 83, Issue 98, 28 April 1939, Page 11

COMPANY AFFAIRS

SOUTH BRITISH DIVIDEND WARRANTS According to an announcement re-; cent'ly made in London, the South British Insurance Co.. Ltd., has made an arrangement through the Reserve Bank of New Zealand by which dividend warrants of companies interested in New Zealand can be negotiated outside the Dominion, provided the warrant is supported by a certificate that the shareholder is domiciled outside New Zealand. The warrant must be made payable to the shareholders personally, and it will no longer be permissible to make payments to a nominee of that shareholder. It will also not be practicable for the company to continue placing dividends to the credit of an account in places outside New Zealand. NEW ZEALAND PAPER MILLS New Zealand Paper Mills, Ltd., has advised the Stock Exchange Association that the directors recommend payment of a final dividend at the rate of 4 per cent., making 7 per cent, for the year; also a proportionate dividend for the 1938 share issue. The dividend, which is at an unchanged rate, is payable on May 20. Transfer books close from May 6 to May 19, both dates inclusive. TARINGAMUTU SAWMILLS Taringamutu Totara Sawmills Ltd. has advised the Stock Exchange Association that the directors have declared an interim dividend of 3 per cent., payable on June 1. Transfers lodged by May 22 will be in time to participate in the dividend. Last year the company paid a dividend of 7 per cent, (interim 2* per cent., final 4i per cent.), as compared with a total of 3 per cent, in 1937.