§ Mr. Hordernasked the Chancellor of the Exchequer how many companies during the 12 months to 29th February 1976, or to the latest date for which statistics are available, have sought and received Treasury permission to increase their dividend per share; and how many of 133W such applications were made in conjunction with a proposed rights issue to shareholders.
§ Mr. DellDuring the 12 months to 29th February 1976, the Treasury gave permission to 237 dividend increases above the statutory limit under the criteria set out in section III of Cmd.5444 (as extended by subsequent announcements). 80 of these concern companies who wished to forecast a dividend payment above the statutory limit in conjunction with a rights issue or a placing. The great majority of the others were concerned with recovery from an adverse trading position.