✨ Financial Statements Continuation
29 JUNE NEW ZEALAND GAZETTE 2215
TELECOM AUCKLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
10 SHAREHOLDERS’ EQUITY
SHARE PREMIUM RESERVE
| 1992 | 1991 | |
|---|---|---|
| $000’s | $000’s | |
| Balance at beginning of year | 464,614 | 464,614 |
| (Consisting of a premium of $9,999 on 46,466 redeemable preference shares) | ||
| Movements during year | ||
| -Premium of $9,999 on 4,000 redeemable preference shares | 39,996 | - |
| 504,610 | 464,614 |
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.
RETAINED EARNINGS
| 1992 | 1991 | |
|---|---|---|
| $000’s | $000’s | |
| Balance at beginning of year | 31,748 | 3,144 |
| Net earnings | 38,142 | 45,627 |
| 69,890 | 48,771 | |
| Dividends | (29,188) | (17,023) |
| Balance at end of year | 40,702 | 31,748 |
DIVIDENDS
Interim and final dividends declared from the retained earnings of the Company are as follows:
| 1992 | 1991 | |
|---|---|---|
| $000’s | $000’s | |
| Interim dividends | 29,188 | 17,023 |
| Final dividend | - | - |
| 29,188 | 17,023 |
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VUW Te Waharoa —
NZ Gazette 1992, No 97
NZLII —
NZ Gazette 1992, No 97
✨ LLM interpretation of page content
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Telecom Auckland Limited Financial Statements
(continued from previous page)
🏭 Trade, Customs & Industry27 May 1992
Telecommunications, Financial Statements, Shareholders' Equity, Share Premium Reserve, Retained Earnings, Dividends