PRUDENTIAL BUILDING
Profit Lifted To £ll,BBB Prudential Building and Investment Society of Canterbury net profit was lifted by 35 per cent from £BBl7 to £ll,BBB in the year to December 31 last. Shareholders’ funds are £143,009, compared With £134,899. Earning rate rose to 8.3 per cent from 6.5 per cent the year before. Dividend is 8 per cent against 7 J per cent and this requires £1456 more at £7935. A bonus of Is a share was paid to repaying members and this took £193. Authorised capital is now fully paid at £lOO,OOO, giving an earning rate of 11.9 per cent, compared with 9.1 per cent. After the dividend and bonus payment there was an undistributed surplus of £3760 which was transferred to general reserve, talcing it to £34,862. Deposits rose from £260,409 to £275,577 and interest on mortgages and investments rose from £20,809 to £24,339. Loans advanced from £327,992 to £341,578 and investments increased from £45,869 to £57,862.
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Press, Volume CV, Issue 31004, 9 March 1966, Page 17
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159PRUDENTIAL BUILDING Press, Volume CV, Issue 31004, 9 March 1966, Page 17
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