GOLD-MINING PROFITS

Waikato Times, Volume 117, Issue 19566, 3 May 1935, Page 6

GOLD-MINING PROFITS

THE WAIHI COMPANY.

PAYMENT OF DIVIDEND.

20 PER CENT. DISTRIBUTED.

(By Telegraph.—Special to Times.)

AUCKLAND, Friday,

Cabled advice has been received from the London head office, by Mr ■R. G. Milligan, local director and attorney for the Waihi Gold Mining 'Company, Ltd., of the results of the year ended December 31, 1934: — r ■The gross profits amounted to £206,630, while deductions were made for taxes, £76,325, and depreciation, £5497.

The amount brought forward was £61,615, and payment of the interim dividend, £49,590.

. This leaves £136,833 for distribution out of whioh the directors recommend a final dividend of 1s per share, free of tax, payabte on May 17, and absorbing £49,590 leaving a balance of £87,243 to bo carried forward.

(Proposals with reference to the future constitution of the company will be submitted to the (shareholders not later .than the autumn.

The annual meeting will be held in 'London on May 16. An interim dividend of 6d per share on account of the current year, free of tax, has been declared, payable on May 17. The board of directors advises that payment of the interim dividend does not necessarily Indicate .an increase of the usual rate of'the annual dividend.

The gross profits of the company in recent years have been:—l93o, £131,644; ’ 1931, £143,435; 1932, £251,948; 1933, £1'97,600; 1934, £206,630.