IMPERIAL CHEMICAL INDUSTRIES.
Partly, no doubt, by reason of the prolonged industrial depression, a good many unfavourable reports had been circulated in the market with regard to the results likely to be disClosed by Imperial Chemical Industries, Ltd., for the past year. The absence of a dividend on the Deferred shares was regarded as a foregone conclusion, but there had also been talk of a great drop in the dividend on the Ordinary shares. Consequently the profit statement when it was issued proved to be much better than the market had expected. The net profit for the year of £4,473,392 showed a decrease of £1,306,816, and nothing this year is transferred to reserve as against a transfer a year ago of £529,020. The directors are able, however, to recommend a final dividend of 3 per cent. on the Ordinary shares making 6 per cent. for the year as compared with 8 per cent. for 1929. The Deferred shares on which 2 per cent. was paid last year receive .no dividend this year as the Deferred rank only for dividend after payment of 7 per cent. on the Ordinary. The amount now to be carried forward, however, is the substantial one of £053,483, .being .an increase of -1303,551
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