London and Northern Securities (Dividend)

HC Deb 07 November 1966 vol 735 c234W

Mr. Horner

asked the Chancellor of the Exchequer why he approved the dividend increase for London and Northern Securities.

Mr. MacDermot

The company was committed to pay the increased dividend under a prospectus issued in November, 1965, and as it had already raised fresh capital on the strength of this commitment, approval was given.