COLONIAL SUGAR COMPANY

Wanganui Chronicle, 15 November 1947, Page 6

COLONIAL SUGAR COMPANY

INTERIM DIVIDEND (P.A.) Auckland, Nov. 12. An interim dividend of 18s a share, equal to a rate of 9 per cent per annum, has been announced by the directors of the Colonial Sugar Relining Co., Ltd., payable on December 3. The dividend compares with an interim distribution of 16s, or a rate of 8 per cent, per annum last year, when a final distribution of 18s brought the full year’s payment to 34s a share, equal to 8* per cent. In making the announcement In Sydney the general manager of the company (Mr. C. W. Rothe) stated, in a circular to shareholders, that it now appeared that Australian raw sugar production this season, while only about 70 per cent of the normal prewar level, would be better by 35,000 tons than was estimated at the beginning of the season. In Fiji crushing had been proceeding smoothly and satisfactoiily, and the estimate had increased by 4 per cent, to 135,000 tons of sugar, for next season. Fiji’s crop prospects were satisfactory but depended, of course, on favourable weather. About 200,000 ' tons of raw sugar were stored in Queesland awaiting shipment to refineries, but owing to shipping and the waterfront position, raw sugar supplies in recent months at most Australian refineries had been at very low levels, and on a number of occasions stocks had become completely exhausted, forcing plants either to ease up or to close down.