AUSTRALIA AND NEW ZEALAND BANK LIMITED.

Press, Volume CIV, Issue 30725, 14 April 1965, Page 21

AUSTRALIA AND NEW ZEALAND BANK LIMITED.

(Incorporated in England) Capital Authorised £ENG.22,500,000 Capital Paid Up £ENG.15,400,000 Reserve Funds and Undivided Profits £ENG.11,450,905 Announcement of Interim Dividend The Directors of Australia and New Zealand Bank Limited have declared an Interim, Dividend in respect of the year ending September 30, 1965, of 5 per cent, less United Kingdom income tax at the standard rate of 8s 3d in the £ on the paid-up capital of £Eng.15,400,000, to which figure it was increased in January, 1965, from £Eng. 14,000,000 by a one-for-ten scrip issue. The Interim Dividend paid last year on the smaller capital was 4 per cent, less United Kingdom income tax. The increase in the Interim Dividend now declared is intended to reduce the disparity which has hitherto existed between the rates of Interim and Final Dividends and does not indicate an increase in the total rate of dividend for the current year. The Directors having taken note of the latest estimates of profits and in the absence of unforeseen circumstances, expect the Final Dividend to be 7 per cent, making a total of 12 per cent, less income tax, for the year ending September 30, 1965, as against a total of 12 per cent, less income tax, for the previous year on the smaller capital. The Interim Dividend will be payable on May 28, 1965, to shareholders registered in the books of the Bank at the close of business on Monday, May 3, 1965. The dividend will be paid in London in English currency and in Australia and New Zealand at the buying rates of exchange for telegraphic transfers on London current at the date of the dividend cheques, namely May 28, 1965. The Bank is liable for Social Security Charge upon this dividend and no Social Security Charge is payable by the shareholder. By reason of double taxation relief, the net United Kingdom rate of tax payable by the Bank in respect of this dividend is 4s Id in the £, which is the rate applicable to any relief or repayment of United Kingdom tax which may be allowed to a shareholder. W. H. SIMON, Chief Manager for New Zealand. v P.B.A.