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Mr. Arthur Pearson
asked the Chancellor of the Exchequer what is the United Kingdom Government's present holing in the British Petroleum Company; and what total divides have accrued for each of the last five years.
Mr. Callaghan
Her Majesty's Government holds £162,000,000 Ordinary Stock and £1,000 Preference Stock, and is subscribing for 12,461,538 new Ordinary Shares of £1 each. When fully paid these Shares will be converted into Stock and Her Majesty's Government will then hold £174,461,538 Ordinary Stock.The following dividends and payments out of a capital reserve have been received in the last five financial years:
| Dividends | Payments out of capital reserve | |
| £ | £ | |
| Year ended 31st March, 1962 | 13,125,049 | — |
| Year ended 31st March, 1963 | 14,062,549 | — |
| Year ended 31st March, 1964 | 13,500,049 | 2,250,000 |
| Year ended 31st March, 1965 | 16,200,049 | 2,700,000 |
| Year ended 31st March, 1966 | 19,079,569 | 4,387,500 |