COMPANY AFFAIRS

Wanganui Chronicle, 27 May 1948, Page 10

COMPANY AFFAIRS

ZINC CORPORATION The offer by Zinc Corporation. Ltd., London, to acquire the entire 2,567,457 issued ordinary shares in Imperial Smelting Corporation, Ltd., has been accepted by shareholders. The purchase will be made by exchanging one Zinc Corporation £1 ordinary share for five £1 ordinary shares in Imperial Smelting Corporation. Zinc Corporation already holds 96.500 ordinary and 7500 preference shares in Imperial Smelting Corporation. ANTHONY HORDERN A further increase of £13,164 to £158.56S is shown in net prolt of Anthony Hordern and Sons Ltd., for the year ended February 25. This is the fifth consecutive year of improvement. The result is reached after allowing £5090 more for depreciation at £61,909. Dividends are unchanged at 6 per cent., ordinary requiring £75,000 and preference £45,000. Reserve is again increased by £25,000 (making it £150.000), and carry-forward is £13,868 higher at £36,726. Stocks, including goods aqoat, have increased by £483,559 to £1,676,378. DIVIDEND PAYMENTS Advice of the following dividends has been received by the Stock Exchange Association of New Zealand:— Australian Consolidated Industries Ltd.: The directors have decided to declare dividends as follows: 4 J per cent, on preference shares for the half-year and 4f per cent, on ordinary shares. Both dividends are payable on July 21. (Ex June 21). Dental and Medical Supply Co., Ltd.: At the annual meeting on June 10, the directors will recommend payment of an unchanged annual dividend ol 6 per cent., plus a special 50th jubilee bonus of 3 pei' cent., both payable on June 10. (Ex May 21). East African Coffee Plantations Ltd.: A dividend of 3/6 a share on 7 per cent, cumulative participating preference •shares will be paid on June 10. This represents arrears of dividend for five years to May 31, 1943. (Ex May 27). Anthony Horden a"d Sons Ltd.: Final halfyear, pref, and ord., 3 per cent, (year 6 p.c., unchanged), payable May 26. Gordon and (iotch (A’asia), Lid.: Halfyear, pref., 4 p.c., ord., 2/- a share (10 p.c.; year 20 p.c., unchanged), payable June 22. Books close Jung 8. Placer Development Ltd.: An ipterim dividend of 25 cents (Canadian) a fully paid share has been declared payable to shareholders registered at close of business on May 22. 1948. The dividend will become due on May 24, and will be paid from all offices if the company on June 14. 1948. Payment from Sydney office will be made in Australian currency, calculated at the rate of exchange ruling on May 24. Dividends payable to nonresidents of Canada will be subject to Dominion of Canada absentee tax of 15 per cent. (Ex May 24'. The National Mort Kase and Agency Co. of N.Z.. Ltd., has declared tax-free interim dividend of 2* per cent, for the half-year ended March 31 on the A and B ordinary shares on the New Zealand and London registers. Wellington Gas Co., Ltd.: The usual halfyearly dividend on preference shares, at the rate of 5 per cent, per annum, less social security tax. is payable on June 15 (ex June 7). Kauri Timber ( <>., Ltd.: Int., half-year. 2 p.c. (unch.), payable June 24. Books close I June IU.