A PROSPEROUS UNDERTAKING.
The annual Report of Mitchell and Butlers, the well-known Birmingham brewers, must have been read with satisfaction by the shareholders. In spite of the high costs of coal during the first half of the year, profits rose from £521,000 to £558,000, although a good increase had been shown in the previous year. The dividend on the Ordinary Shares has now been raised from 13 to 15 per cent., free of tax, and the steady increase in the dividend is really much greater, seeing that it is paid on a capital which has been gradually increased from about £600,000 to £2,700,000 through the process of share bonuses. An amount of £100,000 is now added to the Reserve, bringing it up to nearly £1,000,000, while the amount carried forward has been increased to £271,000. The balance- sheet is also a very liquid one.
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