§ Mr. Trotter
asked the Secretary of State for Industry what rate of dividend is payable on the £2 million non-cumulative preference shares held by the Government in Marathon Shipbuilding; whether the shares are redeemable; and, if so, when.
§ Mr. Kaufman
The £2 million preference shares which were purchased by the Department on 31st December 1974 carry a dividend of 6 per cent. net. They are redeemable by the company not later than 30th March 1987.