COMPANY AFFAIRS

Wanganui Chronicle, Volume 83, Issue 288, 6 December 1939, Page 3

COMPANY AFFAIRS

INTERIM DIVIDEND McKenzies department STORES McKenzies Department Stores Limited, has advised the Stock Exchange Association that an interim dividend of 7 per cent, is payable on December 16. Transfer books will be closed from December 9 to 15, inclusive. The interim dividend is at an unchanged rate. For the last financial year a final dividend of 7 per cent, was paid, making a total of 14 per cent., as against 18 per cent, for the previous year. WELLINGTON GAS COMPANY PREFERENCE DIVIDEND The Wellington Gas Company, Ltd., has advised the Stock Exchange Association. that the half-yearly dividend of 2i per cent, on the preference shares is payable on December 15. Transfer books will be closed from .November 29 to December 15, inclusDALGETY AND CO.. LTD. FINAL DIVIDEND PAYABLE The New Zealand superintendent for Dalgety and Co., Ltd., has received advice from the company's head office in London that at the annual meeting to be held on December 14 the directors will recommend declaring a final dividend of 3s a share, less British income tax, making (with interim dividend already paid) 5 per cent, per annum, less British income tax, lor the year ended June 30 last. The dividend will be payable on and after December 21 and the transfer books will be closed from December 7 to 21, both days inclusive. The directors propose transferring £15.000 to the staff provident fund and carrying forward £124,200. The total distribution of 5 per cent, for the year compares with 6 per cent, last year and 8 per cent, in 1937. MIRANDITE PRODUCTS LTD. The fifth annual report of Mirandite Products Ltd., Christchurch, states that a considerable increase in ore production was shown during the first half of the year ended October 31. but the strike at the phosphate works, which recently became large consumers of the company’s product, caused a temporary interruption in deliveries. Though the balance-sheet shows a small loss of 19s Id on the year's operations, state the directors, this does not imply a deterioration in the company's position, for whereas in previous year the revenue was computed on the basis of the £5OO minimum annual royalty clause, this year only royalties derived from ore actually removed from the boundary of the property was taken into account. This will account for approximately £l5B in the shrinkage in profit. The company also had made the lessee an . allowance of £4O on royalty account, i which was charged to the profit and ' loss account. The profit and loss account shows • the royalty account at £342, interest : £3 14s, inspection of register fees 3s. and net loss 19s, making a total of ■ £347. Expenses included office and general £224. commission on royalty i £45, directors’ fees £52, audit fees £7, ' and income and social security tax ; £lB.