A STEADY DIVIDRND.
It is always gratifying to be able to comment upon the steady maintenance of a large dividend by an industrial company, and the fact that Michael Nairn & Greenwich, Ltd., has been able to pay an annual dividend of 12i per cent. since 1923, notwithstanding the years of depression and, no doubt, of competition, is something of an achieve- ment. During the past year the revenue was certainly a little lower, but, 'all the same, the directors were able to maintain the dividend at 121 per cent. ; and at the annual meeting the Chairman, Sir Michael Nairn, stated that the volume of business done by the main subsidiary companies showed a material increase. He also spoke hopefully with regard to the outlook, remarking _that the. associated com- panies' reports showed improvements in trade conditions both at home and abroad.
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