COMPANY AFFAIRS.
COMMERCIAL BANK. ORDINARY DIVIDEND LOWERED. FROM 11% 105 PER CENT. Tl 3 general manager of the Commercial Bank of Australia, Limited, Melbourne, lias advised the Stock Exchange Association of New Zealand that at the annual meeting of shareholders on August 11 the directors will recommend payment <>E a dividend for the half-year at the rate ot 4 per cent per annum on preference ~" shares and nt 5 per cent for the 12 months , on ordinary shares. While the usual interim dividend at the 'rate of 4 per cent per annum was declared on preference shares in January last, the ' directors announced at the same time that, owing to the effect o£ exchange and other adverse conditions, the interim dividend on ordinary shares was not being paid. Last year the distribution was IVA per cent.
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Auckland Star, Volume LXIII, Issue 161, 9 July 1932, Page 4
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136COMPANY AFFAIRS. Auckland Star, Volume LXIII, Issue 161, 9 July 1932, Page 4
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