COMPANY MEETING
LANCASHIRE STEEL CORPORATION DIVIDEND OF 7% ON "A" AND " B" ORDINARY SHARES THE eleventh ordinary general meeting of shareholders of the Lanca- shire Steel Corporation, Limited, was held on Monday last at the registered office, Bewsey Road, Warrington.
Mr. John E. James (the chairman and Managing director) presided.
After moving the adoption of the directors' report and accounts for the year to December 31st, 1940, the chairman stated that as the accounts were, he thought, self-explanatory, he did not propose to comment on them in detail. He pointed out, however, that after meeting all charges and making any reserves the directors considered desirable, it had been possible for the corporation to pay the full dividend (less tax) on the two classes of preference shares, and to recommend to shareholders payment of a dividend of 7 per cent. (less tax) for the year on the " A" and " B " ordinary shares. He informed the meeting that since the last annual meeting of shareholders the board had elected Mr. Robert Crichton, C.B.E., who had had wide experience in the iron and steel industry, to fill the vacancy arising on the death of the late Earl of Crawford and Balcarres, K.T., and expressed his pleasure that Mr. Crichton had consented-to become a full-time member of the board.
In paying tribute to the work of the employees and members of the staffs of the corporation and its subsidiary companies, the chair- man stated that groups under the National Savings Scheme had beer. in operation in the works of the various companies since the spric.: of 194o, and that that movement, which had been of such value ro the country in the financing of the war, had been supported by both works and staff employees.
The accounts and report were unanimously adopted.
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