✨ Financial Statements
18 DECEMBER
NEW ZEALAND GAZETTE
4609
TELECOM SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
10 SHAREHOLDERS' EQUITY (Continued)
Dividends declared apply to redeemable preference shares as if they were ordinary shares. On winding up of the company preference shareholders rank in priority to ordinary shareholders in respect of outstanding dividends and the issue price of the redeemable preference shares. The redeemable preference shares are subject to redemption, at the issue price five days after written notice from the holder.
CAPITAL REDEMPTION RESERVE
| 30 September | 31 March | |
|---|---|---|
| 1992 | 1991 | |
| $000's | $000's | |
| Balance at beginning of period | 2 | - |
| Movements during the period | ||
| -Transfer from retained earnings | 1 | - |
| Total | 3 | - |
RETAINED EARNINGS
| | Six months ended | Year ended |
| | 30 September | 31 March |
| | 1992 | 1991 | 1992 |
| | $000's | $000's | $000's |
| Balance at beginning of period | 44,139 | 30,438 | 30,438 |
| Net earnings | 22,942 | 30,010 | 60,526 |
| | 67,081 | 60,448 | 90,964 |
| Transfer to capital redemption reserve | (1) | - | (2) |
| Dividends | (21,610)| (27,893)| (46,823) |
| Balance at end of period| 45,470 | 32,555 | 44,139 |
DIVIDENDS
Interim and final dividends declared from the retained earnings of the Company are as follows:
| 30 September | 31 March | |
|---|---|---|
| 1992 | 1991 | |
| $000's | $000's | |
| Interim dividends | 21,610 | 27,893 |
| Final dividend | - | - |
| Total | 21,610 | 27,893 |
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VUW Te Waharoa —
NZ Gazette 1992, No 205
NZLII —
NZ Gazette 1992, No 205
✨ LLM interpretation of page content
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Telecom South Limited Financial Statements
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💰 Finance & RevenueFinancial Statements, Shareholders' Equity, Capital Redemption Reserve, Retained Earnings, Dividends