MONEY MATTERS
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B.M.C. Divh
:ast is 20 per cent
THE directors of BRITISH MOTOR CORPORATI( hope to be able to recommend "a final dividend at least 7111. per share, less tax" when the results I the current trading year are made known next Novemh This payment (121%) added to the interim divide already paid would make a total for the year of 20 The interim dividend was paid on the capital as increat by the proposed scrip issue, thus the equivalent total pi 'tient for the year 1962-63 works out at around 174%. This news comes in a statement giving details of proposed 1 for 8 scrip issue. That a sum of 0,173,9 from reserves is now being capitalized in order to ILIA the capital of the company "more nearly into tine w the capital employed in the business indicates I financial strength of the group. A further proposal whi the directors now make clearly points to the way ahei They seek permission to increase the authorized capi to £70m. by the creation of a further 52nt. Ordins Shares of 5s. each. The statement adds: "Although I authorized capital of the company will be increased £70m. it is not at present the intention of the directors issue further shares" other than those covered by I latest capitalization proposals.
This encouraging statement came out at a time W h equity markets were driving through heavy weatt because of the disturbed situation in the Middle East a
uncertainties surrounding the four recent by-elections. that account the price of these 5s. Ordinary shares Lt. the news calmly with the price showing little, if any, ration. But the market has no doubts about the its of these shares long-term, merits which should reflection in the price when the Market sentiment in brightens.
he ALDERSHOT AND DISTRICT TRACTION CO. minced that for the year ending March 31 last net Lit came out at £93,665, compared with £124,213 the dons year. Tax this time takes £41,440 against ,024 in respect of the trading year 1962-63. The proed final dividend is 31%, tax free, making an equivaof 5% for the year (this distribution is payable on a bled capital). The equivalent payment in respect of 2-63 is 41%. This company, which operates over ost 700 route miles, is jointly controlled by B.E.T. ants Services and British Transport Commission (via nsport Holding Company). The latest price of these Ordinary Stock units, quoted on the London Stock .hange, is 22s. 6d.-27s. 6d.
reply to a reader, the term " Bull " is applied to an !star who buys shares in the hone they will rise in e. Conversely, a "Bear " is a person who feels the .e of a share will fall. In more simple terms, an
imist or a pessimist. Martin Younger