COMPANY AFFAIRS.

Wanganui Chronicle, Volume 86, Issue 111, 15 May 1942, Page 1

COMPANY AFFAIRS.

McKenzies stores dividend. The directors of McKenzies Department Stores. Ltd., recommend a final dividend of 5 per cent., making 10 per cent, for the year. This dividend will 5e free in shareholders' hands, and not subject to farther social or national security tax. It. is proposed to pay the final dividend to all shareholders on the register at. June 1". Transfer book* will he closed from Jlne 17 to June 27 inclusive. NORTH BROKEN KILL PAYMENT. North Broken Kill. Ltd., ha- declared a dividend of 1/- a share, payable in Melbourne on June 26. This dividend will lie subject to the New South Income Tax Management Act. 1941. and the appropriate tax will be deducted from dividends payable to shareholders who are not residents »f New South Wales. Transfer hooKs will close at all offices of the company at 4 p.m. on May 21. LEWIS EADY PROFIT. The acounts of Lewis Eady, Ltd.. Auckland, for the year ended March 31 show a not profit of £6610. compared with £7513 last year and £7219 in 1940. The directors reconiment. a final dividend on ordinary shares of 4 per cent., making N per cent, for the year, unchanged. This will require £9Bl. and the 6 per cent, preference dividend will absorb £1460. BANK OF ADELAIDE. Profit of the Bank of Adelaide for the year ended March 30 was £69,519, compared with £66,519 in the previous year. Latest profit is struck after reserving £45.330 for appropriations, nearly all for taxation. Dividend for the year is maintained at 5J per cent. Directors report that business has been well maintained, and the liquid position has improved to the extent that 13/7 i* now held in liquid assets against every £1 of the bank’s liabilities other than to shareholders. N.Z. PAPER MILLS YEAR. A net profit of £16,689. compared with £16,928 last vear, and £15,641 in 1940, lx disclosed in the accounts of the New Zealand Paper Mills, Ltd., Dunedin, for the year ended March 31. There is £30,728 available, out of which the directors propose payment of a final dividend of 4 per cent., making 7 per cent, for the year, unchanged, taking £.BOOO, and to carry the balance, £22,728, forward. Full production was maintained at Mataura, says the report, and a record tonnage of paper was manufactured, much being for essential defence and departmental requirement;-. Owing to condiitons imposed by the war, it was not. possible to have new machinery replaced and in operation in January. The Woodhaugh factory had boon engaged to full capacity. Stocks total £81,365. against £107,060 last year, while the bank overdraft has been reduced from £57,064 ' 628,656.