7 APRIL 1939, Page 38

ARMY AND NAVY STORES

One of the last of the season's dividend announcements from the London department stores comes from the Army and Navy Stores, who are paying a final dividend of rod. r=1* share, making Is. 3d. per share (124 per cent.) for the ycar ended in January. This is 24 per cent. less than the amount which was distributed for each of the two previous years, but it is in line with the regular dividend policy which had been established previously. The dividend seems to be in 110 with the general experience of the Lonclon stores last ye3r, for it will be recalled that Central and West London was the

(Continued on page 616)

FINANCIAL NOTES

(Continued from page 614) only area in which trade recession and lower security prices had any appreciable reaction on the value of retail turnover. The Army and Navy Stores are distributing £20,500 less to their shareholders and carrying forward nearly £9,000 more to the current year.