Burns Philp spreads
p. 114 · Read in the full issue
Good news for the shareholders of Burns Philp and Company Ltd. was the increase of 11 cents a share in the dividend.
The seemingly small rise means that they will be getting almost $300,000 more for the financial year to June 30 last.
A steady interim dividend of 61 cents a share was paid. However, the final dividend was raised by 11 cents to 71 cents a share. Total for the year was up from 121 cents to 131 cents.
This means that the total dividend payout for the year will be $3,279,375.
The extra 11 cents a share totals $298,125.
Books closed on Friday, July 23, to determine those entitled to get the dividend. It will be paid on Friday, August 27.
The Burns Philp group has in creased its shareholding in Port Moresby’s new brewery, Territory United Brewery Ltd., to 27 per cent, of the issued shares.
The chairman of the brewery, Mr.
B. C. Goodsell, announced on June 29 that Burns Philp (New Guinea) Ltd. had applied for and been allotted 800,000 50-cent shares at par in the brewing company.
This increased the holding of Burns Philp to 1,000,000 shares.
Mr. Goodsell said that after the issue, the paid capital of Territory United Brewery was 3,700,000 shares totalling $1,850,000.
Mr. Goodsell also is a director of Burns Philp and Company Ltd.
After the flotation of TUB early last year Burns Philp’s interest in the company had been eight per cent.
Burns Philp has diversified its activities even further with the for mation of a subsidiary, Burns Philp Finance Ltd., to enter the finance industry. Initially activities will be confined to commercial real estate mortgage loans, mainly project bridging finance. The directors expect a comprehensive range of commercial finance services to eventually be in troduced.
• The Nippon Mining Co., Japan, and Minju Mining Pty. Ltd., Austra lia, will jointly prospect for under ground resources, including copper, in New Guinea. They will prospect in an area of 2,700 square miles in the Goroka District. The two firms will push ahead with a project to ex ploit the mines if prospecting proves promising.