C.B.S. marks good half-year
(New Zealand Press Association/ WELLINGTON'. February 7. The Commercial Banking Company of Sydney. Ltd. will pay a higher interim dividend of 6c a share (6 per cent) on March 8, after increases in unaudited net profit and revenue in the six months to December 31.
The new shares, from the one-for-four issue in November, do not participate in the •interim dividend. In 1973 the bank paid an interim dividend of 5.5 c a share (51 per cent). The results for the latest hald-year included for the first time, those of Commercial and General Accept-
ance, Ltd for the six months to December 31. Excluding C. A. G. A., the (unaudited net profit rose 21 per cent and revenue 36 per cent. ! The extraordinary increase ;in interest rates on overi drafts and term deposits introduced by the Australian ■ Government in September (caused temporary distortions in net income for the halflyear, but this will be counteracted in the second half of the financial year bv the higher interest to be paid on term deposits. The second half of the year will also be affected by substantially higher interest to be paid on ated costs.the directors say.
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Press, Volume CXIV, Issue 33454, 8 February 1974, Page 12
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198C.B.S. marks good half-year Press, Volume CXIV, Issue 33454, 8 February 1974, Page 12
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