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New Zealand Gazette – 1992 – No. 97

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✨ Financial Statements

29 JUNE NEW ZEALAND GAZETTE 2233

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

10 SHAREHOLDERS' EQUITY
SHARE PREMIUM RESERVE

	1992	1991
	$000's	$000's
Balance at beginning of year	419,058	206,359
(consisting of a premium of $9,999 on 41,910 redeemable preference shares)
Balance from acquired subsidiary	-	212,699
(consisting of a premium of $9,999 on 21,272 redeemable preference shares)
Movements during year:
-Dividend declared		(212,699)
-Premium of $9,999 on 4,000 redeemable preference shares	39,996
-Premium of $9,999 on 21,272 redeemable preference shares	-	212,699
	459,054	419,058

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	15,741	9,251
Balance from acquired subsidiary	-	12,152
Net earnings	76,178	62,354
	91,919	83,757
Dividends	(59,045)	(68,016)
Balance at end of year	32,874	15,741

DIVIDENDS
Interim and final dividends declared from the retained earnings of the Company are as follows:

	1992	1991
	$000's	$000's
Interim dividends	59,045	34,295
Final dividend	-	33,721
	59,045	68,016

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VUW Te Waharoa — NZ Gazette 1992, No 97

NZLII — NZ Gazette 1992, No 97

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✨ LLM interpretation of page content

🏭 Telecom Central Limited Financial Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Shareholders' Equity, Share Premium Reserve, Retained Earnings, Dividends

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