PRUDENTIAL BUILD. PROFIT HIGHER
The Prudential Building and Investment Society of Canterbury, Christchurch, increased
its profit by £214 to £12,102 in the year to December 31, the accounts show. Directors have recommended a final dividend of 4 per cent, plus an extra 2 per cent because the dividend is payable on March 29 instead of in December. This will make a total dividend of 10 per cent for the year, against 8 per cent the year before, requiring £2065 more at £lO,OOO.
The earning rate on steady capital of £lOO,OOO is up from 11.8 to 12.1 per cent, while the rate on average shareholders’ funds is down from 8.7 to 8.4 per cent During the year £69,930 was lent out on security of mortgages on land, says the chairman (Mr C. B. Phillips). Deposits received totalled £329,614, and repayments were £322,566. Shareholders’ funds are £1896 higher at £144,905.
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Bibliographic details
Press, Volume CVI, Issue 31306, 28 February 1967, Page 20
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148PRUDENTIAL BUILD. PROFIT HIGHER Press, Volume CVI, Issue 31306, 28 February 1967, Page 20
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