Shareholders hail 50% profit dividend
Shareholders of companies have welcomed the
government's budget proposal to pay 50% profit as dividends after
tax. Any payment less than 33 1/3 per cent of the profit after tax
would be taxed statutorily.
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New chairman - Tea Board crisis ends
The crisis in the Tea Board came to an end last
week with the appointment of the new chairman by President Mahinda
Rajapaksa. President Rajapaksa had directed the Minister of
Plantations Industries, Milroy Fernando to appoint Lalith
Hettiarachchi as the new Chairman of the Tea Board to succeed B.A.C.
Abeywardena.
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COMBank post-tax profits grow 39.46% to Rs. 2.37 b in nine
months
The Commercial Bank Group comprising the
country's benchmark private sector bank, its subsidiaries and
associate companies has continued its robust financial performance
in the first nine months of 2006, and reported noteworthy increases
in profits and income.
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