COMPANY AFFAIRS

Wanganui Chronicle, 1 September 1950, Page 10

COMPANY AFFAIRS

DIVIDEND PAYMENTS N.Z. Farmers* Co-operative Association of Canterbury: Annual, llrst pref., 6 p.c. (last year 5A p.c.); A and B pref. 6 p.c. (last year 5 p.c.i; ordinary 6 p.c. (last year 5 p.c.); Ex Sept. 14. North Auckland Farmers’ Co-op.: Ex Sept. 8 * . * Woolworths Ltd., Sydney: Interim, 5 p.c. (unchanged*; payable Oct. 31, ex Sept. 18. Woolworths (W.A.) Ltd.: Interim. 5 p.c. (unchanged); payable Oct. 31. ex Sept. 18. Nkellerup Industries Ltd.: Interim, preference 24 p.c. payable Oct. 1. ex Sept. 18. B.H.P. DEVELOPMENT The Broken Hill Ply. Co., Ltd., would have to consider raising more capital for the development programme, the chairman, Mr. Essington Lewis, said at the annual meeting in Melbourne on Friday. Capital raised by the recent new issue would not be sufficient to complete the programme. It appeared inevitable that prices of iron and steel would soon be again increased, because of continually increasing production costs. The company’s total production was only 67 per cent. oL capacity, which required .>5,000 tons of coal a week. Although the company's mines could produce that, amount, the tonnage actually won was inadequate, said Mr. Lewis. New and additional plant was needed at Newcastle to ensure (ilicient and balanced operations. There hyd been, an encouraging improvement in output al the Australian Iron and Steel Ltd., works at Port Kembia. Production records were established in the steelmaking section. The chairman said there were now 28.0(H) shareholders in the company. WELLINGTON WOOLLEN Net profit of the Wellington Woollen .Manu(a,luring 1.1,1, tor the year ended June 311 was l 1b.21 . against i::<1,323 ll.e pre, mils year. ' revision lor stall pension Hind is unchanged at £5OOO and for lire insurance reserve is £5OOO. against 12200 last year. Distribution to shareholders is unchanged at 5 p.c. dividend and 3 p.c. bonus, taking t2l.(*iio. Carry-for-ward is £l2,2L>. against £8323 brought in. STANDARD ( E.U ENT Net protit of Standard Portland Cement Co., Lid., for the year ended June 30 was £40,332, against £33,052 the previous year. Dividend, raised from 7 p.c. to 8 p.e. (final 4j p.c.). lakes £31,952, leaving a carry forward of £lB,333 against £9953 brought in. PAPER MANJ I A< TI RERS Net profit of Australian Paper Manufacturers Ltd., at £361.71)1. for the year ended June 30 is a record, and an increase of £101.006 on the year. The result given in a preliminary Inf iiu nl is i cached a I ler allowing 1 .TC (>(MI for current and deferred tax 'lasi jc:i; £!*»."».- 200) and 1421,792 for depreciation (£120,182*.