COMPANY AFFAIRS

Wanganui Chronicle, Volume 84, Issue 179, 1 August 1940, Page 3

COMPANY AFFAIRS

CHARLES BEGG DIVIDEND. Charles Begg and Co., Ltd., has advised the Stock Exchange Association that the directors recommend a dividend for approval by shareholders at the annual meeting on August 7 of 71 per cent, for the year. The dividend is payable on August 8. Transfer books will be closed from August 3 to 7. inclusive. PROFITS OF MEGGITT, LTD. Net profit of £45,821 shown by Meggitt, Ltd., Sydney, for the year ended May 31, is a decrease of £3085. It is arrived al after providing for increased taxation and £1324 more for depreciation. Ordinary dividend is unchanged at 10 per cent., requiring £32,737. Preference dividend of 10 per cent, amounts to £4OOO. An allocation of £5OOO to staff superannuation reserve has been made, and £22,515 is carried forward. TRUSTEES, EXECUTORS i),l IDEND. 1.. frustees, Executors and Agency Co., Ltd., has advised tne jtoek Excnange Association that the directors have decided, subject to audit, to recommend to the shareholders at the ordinary general meeting on August 15, payment of a dividend at the rate of 8 per cent, per annum for the six months ended June 30. The transfer books will be closed from August 1 to 15. With the interim of 3 per cent., and the final dividend of 4 per cent, now recommended, the distribution for the year will be at the unchanged rate of 7 per cent. MERCANTILE MUTUAL INSURANCE. Mercantile Mutual Insurance Company, Ltd., reports for the year ended June 30, a profit of £58,344, which is £2223 above the profit for the previous year. Dividend is maintain at 9 per cent. (41 interim and 44 final), and requires £36,000, and other distributions are: — To reserve for unexpired risks, £5000; officers’ provident fund, £2000; reduction of freehold properties, £5000; and contingent fund, £10,344. Preserve for unexpired risks now on the balance-sheet follows its establishment by shareholders on the recommendation of the directors at the annual meeting a year ago. It was effected by transfers of £50.000 from the reserve fund, now the general reserve, and £70.000 from the contingent fund. The directors have decided to pay to those on the staff Who have enlisted for sendee overseas and to others engaged in local military duties the difference between their salaries and their military duties.