Barclays NZ $6.3M profit
The audited tax-paid profit of Barclays New Zealand, Ltd, for the year ended December 31 was $6,384,000, the chairman, Mr W. J. Shaw, announced yesterday. Profit before tax almost trebled to $9.4 million, but the provision for tax increased from $940,000 to $3,022,000. Mr Shaw said that the results for the year were very pleasing, and reflected a much improved general trading performance. “In percentage terms, net tax-paid profit increased 160 per cent over the year, and, perhaps of greater significance, represented a rise of 72 per cent over the previous record level set in 1984. “Reflecting the expan-
sion of the business base, balance sheet footings rose by about $2OO million to $662 million.” The directors recommend a final, dividend of 6c a share (30 per cent) making a total dividend of 11c a share (55 per cent) compared with 10c a share last year. The final dividend will be payable on April 24. Shares resulting from the recent bonus issue and current cash issue do not participate in this dividend.
To ensure compliance with trustee requirements 1c a share of the final dividend will be payable in cash, with the balance payable at shareholders’ option either in cash, or by the issue of bonus shares in lieu.
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Press, 21 February 1987, Page 26
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213Barclays NZ $6.3M profit Press, 21 February 1987, Page 26
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