é

af yen aH eeiameemahintiaaas

PBA SISAL:

mec:
2

a i Bs
pot

~-"

Se ST mone io dango,

Re oe

en

reinvestment

something of a mouthful, ‘the
- idea. ‘behind -’ t.is

simple. aoe -

a

plan" is:

: quite

Briefly, some: of Canada’s

biggest:comipanies offer their...

* Calgary Power,
~ Columbia -
‘Canadian Pacific- and. the

-, Canada |

“ supporting constituency

; indeed..

British -
‘Telephone,
Development

Corporation - ‘also’ have -
provisions . for the. rein-

~-vestment ~of dividends in.
additional shares. : .

‘Other: Ganadian com-

‘panies with large numbers of

shareholders will likely also
institute such programs.

investors.

SAN TT ne re a tte i

ar

ividends they .

is. alittle less than the market;

price and there i $a saving on!

the urge. 43
1 ; ividénd.. rein-
vestmeént. plans i is in response
to “publi :' demand rather
than as a. -means of raising
significant samounts — of
capital. - 2 ~ ON e

Companies generally have. .
large “numbers. of ‘small
“among. their
shareliolders.. Often their.
own employees, in total,’
have a major. stake in the
firm.

Bell ‘Canada is among the

companies with dividend
reinvestment plans. For
years, Bell has had

provisions for employees to
buy shares. The dividend |
reinvestment plan is an
extension of the company’s
goal of having the broadest
possible public ownership.
Bell has more than 200,000
shareholders, a very large

VICTORIA -- Robert E.
Skelly, New Democrat MLA
for Alberni has called on the
B.C. government to exempt
building products from sales
tax to encourage residential
construction,

“The move would put
back to work construction
labor which has been idle
over the last few years duc to
inactivity in the construction
sector of the economy,” he
said. ©

4

oy

Skelly noted Farmer
Construction of Victoria has
recently purchased a general

; ‘the -factlity-.of
using’ thé: d et
receive from the:company to
buy. additional shares. In-.-

variably, the price to be paid.

~Dividend- -reinyestment
» platis are’ an idea forthe
times . since, ‘increasingly,
government provides in-
centives for investment in.
dividend-paying Canadian
companies. Most people are
familiar.:with the. carrot to

. Save-and invest arising out of .
“the fact-that the first $1,000
~of income received from
- dividends (also. i

capital: ‘gains) is’ vfree . of ‘in-
come: tax.. one are “other
incentives too, |

af .

Dividend reinvestment is
an’ old idea among In-_
vestment Funds, those
shareholder-owned pools of
people’s .savings that are.
invested by . professional
managers.

The Funds have always
tried to encourage and help
people save and invest on a
regular basis. Regular in-
vesting is one of the un-
derlying basic principles of
their activities.

Among these Investment
)Funds (or Mutual Funds as

“they are sometimes referred

to) many = shareholders
undertake to buy additional
shares with their dividends,

products ‘says MLA

contracting firm in Seattle
which employs 31 people on
contracts averaging $3.5
million per year. Company
president, Wayne Farmer,
justified the acquisition by
saying that he wished to
expand in a fast-growing

“economy, “and that meant
Alberta or Washington
state”.

“It should be noted,” said
Skelly, “‘that Farmer
Construction received up to
$2,600,000 in B.C. govern-
ment support in December,
1977.

Skelly said that he felt that
sales tax reduction on

nterest and

to

as saving: ‘the sales charge
which might be:4% to 9% of
the | “value. Of the” ‘Shares :
-Purchased.,

Ine 1978, the 77 members

of The Tavestment | Funds

‘Tustitute of ‘Canada paid out

almost $100 -million.: in

dividends’ to ‘their investors. -

It .is estimated- that about
70% ‘of this total- was:

reinvested in the shares of
the Funds;

“

WV

‘advertising
~ Pays. |

This colamn, . is prepared
by Frank Kaplan, a
-prominent——writer . on
‘Canadian business and

finance, in association with.
the staff and information:
- facilities of. The Investment

Funds Institute of Canada,
which represents financial

Call 980-051 1

than. $2.3. billion - “of. the

savings ° of ‘almost’ 500,000
‘Canadians. cee

THAT'S AN $8-MILLION SMILE being flashed by Federal Minister of State for Small Business Ron Huntingdon,
left, as he accepts a cheque for that amount from K.P. Benson, president of B.C. Forest Products Ltd. The cheque is
in payment for the Federal Government's shares in Finlay Forest Industries of Mackenzie, which has been acqiiired

by BCFP.

building materials in B.C.
would stimulate the con-
struction sector, employ idle
building trades workers and
generally increase benefits
he province of British
Cohimbia rather than to
Alberta or Washington state.

Skelly also requested sales
tax exemptions | on = alter-

hative energy devices, such.
heating’

as solar water
panels, and energy saving
devices, such as wood stoves
which

receive (tax con-
cessions from the federal
government and other

provinces.

.

B.C. Hydro

970 Burrard Street
Vancouver, B.C.
V6Z1Y3

Mrs. EE. Palmer, Personnel

5)

Our Installation environment is TCMP IBM 370/168'6
running MVSI/JES 3 using PLII, ISO with SPF, CICS, IMS DB, GIS and APL.

PROGRAMMER ANALYST

Mathematical Sciences & Gas Engineering
A woll-experienced PL/1 programmer is required to design and develop com-

puter programs according to defined specificationa and standards. Programming
work intcydes new systems and maintenance and extension of existing systems.

Formal training in computer systems, preferably in engineering or gas related
applications work and working knowlekige of O/S, JCL Is required. APL program-
ming considered Savantageous.

Salary range: $1683 - $1996 (undor review); full tange of
employee benefits. Position is open to men and “pmen.

Please apply quoting the name of this newspaper,
the job title and job number HO-389 to:

9C-

oF

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