LANCASHIRE STEEL DIVIDEND RAISED.
By raising its final dividend from 3i per cent. to 4i per cent. the Lancashire Steel Corporation is following the current trend of steel dividends. But the increase has special significance because of the conservative policy which the company always follows and the expressed intention of the directors to build up reserves.
The total ordinary dividend for the year is 7 per cent., as against 5 per cent. last year. The public has no direct interest in the increased ordinary distribution. Public interest in the Corporation is in first preference shares, but there is also an indirect interest through the ordinary shares, and 5 per cent. Income Debenture Stock of Pearson and Knowles. The Income Debenture Stock,now standing at about £74,received 2i per cent. last -year. It is reasonable to expect that it will be able to receive a larger dividend this year.
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