TOBACCO PROFITS.
Once again the Report of Carreras, Limited shows that previous record profits have been exceeded, the total for the year being £1,285,154 as compared with £1,154,250 last year. This company always carries forward a huge balance so that the amount now available is £2,505,000. An extra Reserve is to be created styled a Development Fund, and to this £100,000 is allotted, while Income Tax provision requires £263,828 and Superannuation Fund £4,524. It is proposed to capitalise £351,563 in order to distribute bonus shares in the proportion of one " A " Ordinary for every four Ordinary and/or " A " Ordinary shares and one " A ' Ordinary share for every thirty-two " B " Ordinary shares held by the shareholders on January 2nd next. The share bonus is, in addition to a repetition of the cash dividend of 50 per cent., free of tax.
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