DIVIDENDS DECLARED

Wanganui Chronicle, Volume 89, Issue 227, 25 September 1945, Page 8

DIVIDENDS DECLARED

The directors of N.Z. Guarantee Corporation Limited will recommend at the annual meeting to be held on October 29, a dividend of 4id per share for the year ended August 31. The transfer books will be closed al 5 p.m. on September 28, 1945. An unchanged interim dividend ol Bd. a share has been declared by the directors of New Zealand Newspapers Ltd., for the half year ended September 30. The dividend will be payable

;October 1. N.Z. GUARANT EE CORPORA HON. (P.A.) Wellington, Sept. 21

The directors of the N.Z. Guarantee Corporation Limited will recommend, at the annual meeting on October 29, a dividend of lid per share for the year ended August 31 last. 151.RLU (N.Z.) LTD. (P.A.) Auckland, Sept. 21.

Berlei (N.Z.) Ltd. has declared a snec.al victory bonus of 2s a share on all shares, payable forthwith, to mark the end of the war, and the company's 21st. anniversary. PROPOSED CAPITAL INCREASE (P.A.) Auckland, Sept., 21 A proposal to increase the nominal capital of Reid (New Zealand) Rubber Mills Ltd. fiom the present figure of £250,000 to £1,000,000. by the creation of 750,000 shares of £1 each is to be submitted to shareholders of the company on October 2. The new capital figure is set so as to cover not. only requirements for construction and equipment of the tyre factory but also to provide a reserve of unissued capital. In view of probable further expansion, the directors will oiler to existing shareholders 100,000 shares for subscription at par in proportion of one share for each two now held.

The managing director of the company, M.. G. C. W. Reid, accompanied by the company’s chief engineer, is shortly to go abroad to purchase factory equipment. Mr Reid will visii the United States to confer with B. F. Goodrich and Co., technical advisers and co-operators with the Reid Company, and will later proceed to Great Britain, where the greater part of the plant will be ordered under a contract entered into by Reid Rubber with the Goodrich Company. Goodrich will take up 100,000 shares in the new capital. A further arrangement has been made with E. W. Pidgeon and Co., Ltd., which is to be associated with the distribution of the company’s products. to lake up 20,000 shares in the new capital. The shares to be subscribed for by these two companies and the balance of the capital to be raised to meet the cost of the new project will not be issued till af>er payment has been completed of 100,000 shares soon to be offered to present shareholders.

Probably a further issue will be made about 12 months after the 100,000 issue, as by that time the factory cons'ruction should be well advanced. Apart from the shares to be issued to the two associated companies, existing shareholders al, the time shares, are offered will have absolute right to priority in subscription-