BANK OF NEW ZEALAND

Hawera Star, Volume LIII, 16 June 1933, Page 9

BANK OF NEW ZEALAND

PROFITS FOR THE YEAR,

ALLOCATION OF DIVIDENDS.

(By Teiegrapn—rress Association.)

WELLINGTON, June 16. In the balance-sheet and profit and loss statement” the Bank of New Zealand directors state that the profit was £615,469 9s 7d. From this ' was 'to be deducted interest "’on” guaranteed stock; ‘£21,199'8s lid, leaving a balance of profit for the year of £594,270 Oi 8d; to which lias to be added £395,056 ss' 9d balance brought forward from last yfear, malting 1 £989;346: From this has been paid a dividend on pref. A shares (£5Q;000), air interim dividend on C long-term mortgage shares (£7031 ss), an interim dividend oil D long-term mortgage shares '(£l7,578 2s 6d), an interim dividend on pref. B shares (£39,062 10s), an interim dividend on ordinary shares (£234,375), making a total of £348,060 17s 6d, leaving available for distribution £641,279 8s lid. This the directors propose should be disposed of. as follows: Dividend on C long-term mortgage at 6 per cent, per annum, £7031 ss; dividend on D long-term mortgage shares at 7-1 per cent, per annum, £17,578 2s 6d; dividend on pref. B shares (making £123,137 10s for the year), £84,375; dividend at the rate of 5 per cent, on ordinary shares (making £421,875 for the year—equal to 11| per cent.), £187,500, leaving a balance to be carried forward of £344,795 Is sd.