THE CEMENT INDUSTRY.
Conditions in the cement industry continue to be of a satisfactory character, and although Associated Portland Cement Manufacturers, Limited, has recently announced a dividend of 7 per cent. for the past year as compared with 8 per cent. previously, the smaller dividend has been paid upon a larger capital, as the 500,000 new Ordinary Shares issued in Augnst, 1931, have only just fully ranked for full distribution with the older shares. Moreover, there has been an allocation this year to Depreciation Reserves of £337,150, being an increase of £25,000 upon the previous year's figure. In the case of the British Portland Cement Company the final dividend of 10 per cent., making 15 per cent. for the year, is the same as for the previous five years. Moreover, the distribution is made after providing £255,000 for Depreciation Reserves, while £200,522 is carried forward.
A. W. K.
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