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OCR: The holding company's interest in the aggregate profits earned by the joint venture and subsidiary companies amounted to R23,8 million (1995: losses of R122,1 million incurred ) after taxation. Jenren Investments (Pty) Ltd is not consolidated, as the company is dormant. Dividend The Board of Directors recommended a final dividend of 7,7 cents per share for the year ended 31 March 1996 (1995: 5,8 cents). In terms of the Company's articles of association, the directors may not recommend a dividend which is less than one quarter of the Company's after-tax income. Events subsequent to balance sheet date There were no material events subsequent to balance sheet date.