HC Deb 17 May 1968 vol 764 c298W
Mr. Bruce-Gardyne

asked the Chancellor of the Exchequer, if he will set out in the Official Report the actuarial calculations which led him to conclude that an increase in total distributions by Burmah Oil Limited, from 3s. to 3d. 1½d. per share, could be accompanied by a reduction in total distributions from £19.877 million to £19.366 million.

Mr. Diamond

In 1966 a capital dividend of £1,657,127 was paid. As this was part of a clear pattern of such distributions forming a normal part of shareholders' income, it could be treated as part of the base for calculating the amount by which distributions out of revenue profits might be increased within the voluntary dividend restraint policy.