LATEST MINING NEWS
WAIHI COMPANY DECLARES USUAL DIVIDEND
THE YEAR’S OPERATIONS
The Waihi Gold Mining Company Avill pay the usual final dividend of Is per share on May 6th, but in order to do so it has been necessary to transfer an amount from reserves to compensate for reduced net profits.
Cabled advice from the head office in London has been received by the local director and attorney. Mr Charles Rhodes, giving the results for the year ended December 31st, 1931, as under: “Balance brought forward, £2556: gross profits, £143,435; transferred from reserve account, £35,000; depreciation, £6375; taxation, £71,589; interim dividend, £49,591. This leaves £53,437, out o£ which the directors recommend a final dividend of Is per share, free of tax, payable on May Gth, absorbing £49,591, leaving a balance of £3846 to be carried forward.”
The dividend is usually paid in English currency.
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https://paperspast.natlib.govt.nz/newspapers/WHDT19320423.2.17
Bibliographic details
Waihi Daily Telegraph, Volume XXIX, Issue 8301, 23 April 1932, Page 2
Word Count
144LATEST MINING NEWS Waihi Daily Telegraph, Volume XXIX, Issue 8301, 23 April 1932, Page 2
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