Denaby “Divi” Down

May 1960

South Yorkshire Times May 2

Denaby “Divi” Down

At the half yearly meeting of the Denaby Main Industrial Corporative Society, held in the Epworth Hall school room on Wednesday, it was reported that for over eight years the rate of dividend had been maintained at 1/6d in the pound but this half year the Board of Management had no alternative but to recommend a dividend of 1/4d

It was stated that the decrease in sales over the period, amounted to 7.2% compared with the corresponding period of last year. Sales for the present period ending February 29, amounted to £146,776.

The directors report presented by Mr Thomas, president, and Mr E Sheldrake, Chief Executive Officer, stated that the decrease was principally in the food trade and showed the extent to which competition had intensified.

The report added that share capitalhad increased to £74,301 and reserve funds to £27,796.

New members numbered 95 during the half year, 50 members had withdrawn, and 214 were taken off the books. Total membership now stood at 2949

Under the Collective Life Insurance, nine claims had been met at a cost of £124 12s 9d. The directors stated that it depended upon members support, whether the new rate of dividend could be maintained.

The annual sales were £289,439

Four members were due to retire from the Board and there were five contestants for the four seats. Elected at the Poll were Messrs A.Mason, A.Oakley, D.Hone and H. Brooksbank.




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