REDUCED DIVIDEND

Hokitika Guardian, 30 November 1932, Page 5

REDUCED DIVIDEND

FROM N.S.W. BANK

PROFIT REDUCED BY £102,000.

(Australian I rest Association )

{SYDNEY, November 20. T'ha net profit of the Bank of New iSoiith Wales for the year ended September 30th. amounted to £462,967, which is £102,268 below 1930-31. As the undivided balance brought forward was £112,963, the amount for appropriation was £575,930.

An interim dividend at the rate 1 of 6s per sbjTe for th e first quarter, and os per share for the second and third quarters has been paid, and a final payment also of 5s per share, in Australian currency, in respect of the closing quarter was approved, at the annual meeting to-day. The return to the shareholders is equal to 5-1 per cent, per annum, compared with eight per cent, in the previous year.

The amount applied to dividends is £460,950, and this leaves £114,980 to be carried forward. Mr Thomas Buekland, president of the bank, in the course of his remarks, said that the assets stood at £37,980,000, being an increase of more than £6,860,000. He, added that the combined item of deposits and notes in circulation stood at the large total of £84,508,000, this being an increase of over £14,638,000.

The report and balance sheet were adopted.

STATE BANK DEPOSITS

/SYDNEY,' November 29,

Commonwealth Bank deposits in cheque paying accounts increased by £7,153,000 to £306,889,000 in the year ended Scvotember 30. Fixed deposits wer© £7,071,000 higher at £218,278,000. Advances decreased by £17,879,000 to £257,589,000, th e ratio to the total deposits falling from 91 to 83.94 per cent. Owing, however, to the financial accommodation afforded various Governments, advances and investments together totalled £46,563,000 at Sfeptember 30, the ratio to deposits be’ng 112.93 per cent.