Three companies pay dividends

Media

Part of The Marsman Magazine

Title
Three companies pay dividends
Language
English
Year
1939
Rights
In Copyright - Educational Use Permitted
Fulltext
THE sesber MARSMAN r MAGAZINE THREE COMPANIES PAY DIVIDENDS During the current month, three com­ panies under the management of Mars­ man & Company disbursed dividends to stockholders. These dividends aroused considerable interest among investors in the Islands. Coming at a time when the mining in­ dustry is subjected to comment in view of the rising cost in machinery and freight, these dividends provided added confidence and stability in the industry. San Mauricio Mining Company de­ clared a third cash dividend this year. This is in addition to the 100% stock dividend earlier in the year. The divi­ dend for the third quarter amounted to 40%, which is a total of Pl,900,000 paid to shareholders during 1939. The board of directors of Itogon Mining Company at a meeting on August 29, declared a 20% dividend to shareholders on September 30. Jhis dividend amounts to a total of P500,000. On September 13, a meeting of Mars­ man Investments, Limited was held in the Marsman Building, Manila. In the absence of Mr. Marsman, Benj. S. Ohnick presided over the meeting and presented a summary of activities for the fiscal year. During the past fiscal year a net profit of £93,434.10.3 was made. During the year an interim dividend of 7^ % was paid, and on the recommendations of the board of direc­ tors, a . financial dividend of a like amount was paid. This brings a total of 15% distributed to shareholders for the past fiscal year.