COMPANY AFFAIRS

Wanganui Chronicle, Volume 83, Issue 256, 30 October 1939, Page 3

COMPANY AFFAIRS

U.I.C. YEAR. PROFIT MAINTAINED. DUNEDIN. Oct. 27. A net profit of £38,099 as against 138.389 last year, is reported by the Drapery and General Importing Company of New Zealand, Ltd. (D.1.C.) for the year ended August 20. The dividend has been held steady at 6 per cent .on the ordinary shares and 5 per | cent, on the preference shares. In- ' eluded in the appropriation account is I a .sum of £5OO for “contribution to ! patriotic funds.” Net profit for the year, after making full provision for land and income lax. Social Security tax, bad «nd doubtful debts and depreciation of buildings, fixtures and plant, is £38,099. which, with £45,577 brought forward from last year shows a total to ; the credit of profit and loss appropriaI tion account of £83,676. On MayT an 1 interim dividend was paid on the prei ference shares at the rate of 5 per rent, per annum for the half-year • I ended February 20. which absorbed \ £6250 and leaves £77,426 now available. ' • The directors recommend the folI iowing appropriations: To payment .of dividend at the rate of 5 per cent. 1 ' per annum on preference shares, 1 £6250; to dividend at the rate of 6 per ' per annum on ordinary shares, < . 1 -1.589; to addition to reserve (which ■ hen stand at £60,000), £9966; to : nation for contribution to patriotic fundi at the discretion of the directors. £500; leaving a balance to be carried forward of £46,121. NATIONAL INSURANCE CO. DIVIDEND MAINTAINED. DUNEDIN. Oct. 27. The annual report of the National insurance Company of New Zealand Ltd. shows that net income lor lhe i rear ended September 30 amounts to 13 585 Ss 51. After making full pro- | ■ vision for losses outstanding there is i i an underwriting surplus of 120,290 13s ' Id. Interest and rents, less income | I tax. amount to £29,173 0s Bd, and the ! i balance, brought forward from last ! vear was £37.499 0s 7d, amounting in ' , all to £86.962 14s 7d. An interim I | dividend of 4d a share was paid in | I May. 1939, which absorbed £16.666 13s 4d. leaving available a balance of £7O,- 1 I 296 Is 3d. ■ The directors have added £5OOO to ; reserve fund and have written £7105 i off the company's premises. They now recommend- payment of a ■ further dividend of 5d a share. £20,I 533 6s Bd, making the total distribution for the year 9d a share, equalling i £37.500, and to carry forward £37,357 HENRY JONES CO-OPERATIVE. I INCREASE IN DIVIDEND. j ■ Henry J >nes co-operativ e Ltd. j es-■ i terday advised the Stock Exchange i Association that the directors have j I declared a dividend of Is 9d a share, I payable on December 18. Share rel gisters will be closed from December I 4 to 18. inclusive. The interim dividend was 6d a I share. The destribution for the year is I thus 2s 3d a share, equivalent to Hi . nor cent., compared with 10 nor cent.