NEW ZEALAND INSURANCE COMPANY

Dominion, Volume 20, Issue 255, 27 July 1927, Page 9

NEW ZEALAND INSURANCE COMPANY

YEAR’S OPERATIONS REVIEWED. Dominion Special Service. Auckland, July 25. The annual, meeting ol shareholders of the Now Zealand Insurance Company will be held next Tuesday. The directors propose a dividend for the year of ls. 9d. a share, as against Is. BdJ for last year. The report of the directors for the year ended May 31 states the net revenue from fire, 1 marine, and accident premiums was £1, 121,424 15s. 3d. The balance brought forward from 1926 was a£121,953 4s. 7d. The surplus on tho year’s operations, after making full provision for all ascertained losses to May 31, depreciation of investments and appropriations for taxation, amounts to X9<),152 Ils. 2d., to which is’ added net income from interest amt rents, £125,358 fls. Id., making a total of .£215,510 Ils. 9d„ aad-with the balance brought forward, .£337,493 IGs. 4d. The interim dividend of lOd. a' share «paid last February absorbed <£G2,500, while <£75,000 lias been transferred to the reserve fund, leaving a balance of £199,993 16s. 4d. lt. is proposed Jo pay a dividend of Is. 9d. a share for the year, less the interim dividend of lOd a share paid in February, which will absorb <£68.750, leaving a balance of £131.243 16s. 4d. to be carried forward: The directors have also decided to recommend, as was announced on June 29, that £150,000 be transferred from reserves to the capital, thereby reducing the uncalled capital by 2s. a share.