Brewery Distribution

An unusual linking of brewery interest is brought to notice by an announcement to-day from Nalder & Collyer’s Brewery Co. (Ltd.) This Company has a capital of £660,000 in £130,000 Ordinary and £530,000 Preference shares. Practically all the Ordinary and 90 per cent, of the Preference are held by the City of London Brewery and Investment Trust (Ltd.) This latter, now mainly an investment trust, has a considerable holding in Ind Coope & Allsopp (Ltd.) and also an indirect interest in Ind Coope through Nalder & Collyer, which in March last year sold a number of its properties to Ind Coope & Allsopp (Ltd.) for a total consideration of £2,200,353, paid partly in cash and partly in Ind Coope Debentures, Preference, and Ordinary stocks.

The directors of Nalder & Collyer are now going to distribute part of the Ind Coope Ordinary to the Company’s Ordinary shareholders and the bulk of these shares will of course go to the City of London Brewery and Investment Trust (Ltd.) For every £10 Nalder & Collyer Ordinary will be given £2 of Ind Coope Ordinary, making the total distribution £26,000 nominal, worth at the current market price £162,500. Accompanying this announcement is a final dividend of 20 per cent plus a 10 per cent cash bonus, making, with the interim of 25 per cent., a total of 55 per cent, as before, which of course also goes mainly to the controlling company. There is a free market in City of London Brewery 5s Deferred Ordinary units now standing around 20s. a price which indicates long-standing hopes of a capital bonus. Last year’s dividend was only 6 per cent. The next accounts are to June 30 next and are due in July.

Source: The Scotsman – Friday 07 May 1937 from the British Newspaper Archive (subscription required)

Nalder & Collyer owned the Horse and Groom, Kings Head (later Burn Bullock), Ravensbury Arms, Three Kings, Swan, Windmill.