We have been advised by Messrs. A. R. Burkill & Sons, Ltd, agents of the Anglo-French Land Investment Company, Ltd. that the, profit on Rental Working Account for the year ended February 28, after providing $103,027.57 for depreciation and re-newels, amounts to $198,496.51.
After providing $66,606 for Bad Debts Reserve, and $52,500.00 for Special Repairs and Renewals to cover properties damaged during hostilities but not totally destroyed, the amount transferred to Profit and Loss Appropriation Account is $62,061.24. To this must be added $18,720.83 brought forward from last year, making a total of $81,382.07. Deducting $38,670.00 being Interim Dividend of $2.00 per share paid on November 5, 1937, there is a balance at credit of Profit and Loss Appropriation Account of $42,712.07.
At a meeting of directors held yesterday, it was decided to recommend the following appropriation at the forthcoming annual general meeting of shareholders to be held on Thursday, April 21:—
To Pay a Final Dividend of $200" Local Currency' per Share (making a. total of $400 Local Currency per Share for the year) $38,670.00
Text read from the printed page and cleaned; old type leaves the occasional error.