J. N. Nichols Ltd. (Dividend Distributions)

HC Deb 13 May 1968 vol 764 cc195-6W

Mr. Bruce-Gardyne

asked the Chancellor of the Exchequer whether the increase in total distributions to shareholders by J. N. Nichols Limited from 31 per cent. to 33 per cent. is in accordance with the Government's proposed 3½ per cent. limit on dividend increases; and if he will set out in the OFFICIAL REPORT the actuarial calculations on which his decision is based.

Mr. Diamond

The actual amount proposed for distribution does not exceed the amount distributed in respect of the previous year plus 3½ per cent.