Three companies pay dividends
Media
Part of The Marsman Magazine
- Title
- Three companies pay dividends
- Language
- English
- Year
- 1939
- 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.