COMPANY AFFAIRS

Wanganui Chronicle, Volume 83, Issue 290, 8 December 1939, Page 3

COMPANY AFFAIRS

NATIONAL ELECTRIC CO. INCREASE IN DIVIDEND The National Electric Co.. Ltd., has ] advised the Stock Exchange Association that the directors recommend a dividend lot the year of 6 per cent, payable on December 15. Transfer books will be closed from December 4 to 20, inclusive. The dividend last year and in 1937 was 5 per cent. MOOL\)ORTHS PROPERTIES HALF-YEARLY DIVIDEND Woolwoiths Properties, Limited, has advised the Stock Exchange Association that a dividend for the half-year ended December 31, 1939, is declared at the rate of 6 per cent, per annum on the preferred ordinary share capital ot the company. The dividend will be payable on January 15, 1940. The transfer books will be closed from December 18 to 31, inclusive. MILTON COLLIERIES, LID. DIVIDEND UNCHANGED AUCKLAND, Nov. 6. Profit of Wilton Collieries 11934), Ltd., for the year ended October 31, iwas £4471, against £3843 in the previous year. | A final dividend of 3 per cent, is j recommended, making 6 per cent, for [the year, an unchanged rate. I FELT AND TEXTILES I .SECOND PREFERENCE DIVIDEND [ The directors ot Felt and Textiles lot Australia, Ltd., have declared a dividend on the 6 per cent, second j preference shares tor the half-year ending December 31, 1939, payment to be made on January 1. The Melbourne and Sydney second preference transfer books and registers of members will be closed from December 18 to 31 (both dates inclusive). DIVIDEND PASSED CLAUDE NEON LIGHTS AUCKLAND, Dec. 6. A profit of £5OOB is reported by Clauue Neon Lights of New Zealand, Ltd., lor the year ended September 30. This result is struck after provision for all charges, including depreciation and taxation ,and compares with £5864 a year ago. The value of contracts current is stated at £218,276, which is £30,409 in excess of last year. With £5210 brought in there is a balance of undistributed profit or £10,218, which the directors propose to carry forward. The report mentions, as indicated in the chaii man's speech last year, that the directors consider it advisable not to recommend a dividend. In view ol heavy payments lor me Jme and social security taxes, amounting to £6004, and due early next year, it is considered advisable to conserve funds. Taxation, it is stated, now represents 10s lid in the £l, as against 7s 6d in the £1 last year, and 5s 10d five years ago. It is anticipated that unless there are unforeseen circumstances dividends will be resumed next year.