What Makes It a Squeeze

April 1, 1967 proposed a final dividend of 14 per cent for the year. This, together with the interim dividend of 11.33 per cent declared last October, makes a total of 25.33 per cent for the year. The directors had stated at the time of the public issue that the Company would be able to pay a total dividend of 22.5 per cent for 1965-66. Thus, the actual dividend for the year is higher than the forecast made in March, 1966. The Company paid a total dividend of 74 per cent on a smaller capital of Rs 75 lakhs for the previous year. The final dividend of 14 per cent in respect of shares offered to the public in March 1966 works out at Rs 1.05 per fully paid-up share and 63 paise per partly paid-up (Rs 6 paid-up at the close of the year and Rs 8 paid- up now) share. The total dividend for the year on partly paid-up shares works out at Rs 1.14 per share. The Company's gross sales have increased by 17 per cent and crossed the Rs 12-crore mark from the previous year's level of Rs 10.31 crores. Its net profit after taxes and development rebate reserve has improved by 16 per cent to Rs 1.16 crores. The ratio of net profit to gross sales works out at 9.6 per cent for the year, The majority sales have come from the pharmaceutical side, though all product groups are reported to have contributed towards the higher turnover. On a comparative basis, animal health and agricultural products have recorded a maximum growth rate of 65 per cent. Work on the Company's new projects at the Trans-Thana Creek industrial area is progressing according to schedule. Work on the new expanded facilities for the manufacture of Trotinex' a well balanced protein-vitamin combination, is now complete and production and packaging have commenced.