UNION BANK

Dominion, Volume 29, Issue 93, 14 January 1936, Page 12

UNION BANK

Increase In Profits Profits earned by the Union Bank for the year ended August 31 totalled £214,984. A dividend of'2/6 a share is being paid and £126,015 is to be carried forward. The previous accounts were for six months, as the balance date was altered from the last day in. February to August 31. . On an annual basis the profit Is slightly better than in the previous period. The dividend, which is equal • to 5 per cent., is unchanged. It is tax free, and is usually payable in sterling toward the end of January. New Zealand shareholders will receive about 3/1 a share. The year’s results compare with those of Hie two previous periods as follow: —

The bank has an issued capital of £4,000,000 in £5 shares. The bank has paid dividends of 5 per cent, since 193132. 7 per cent, in 1930-31,12 J per cent, in 1929-30, and 15 per cent, over -a number of preceding years.

Half-year Year ended Aug. Year 1933-34 1934 1934-35 £ £ £ Biought fwd. 100,523 104,032 111,030 Net profit • • 203,509 106,998 214,985 304,032 211,030 326,015 Dividend 5 2J 5 Amount 200,000 100,000 200,000 Carried fwd. 104.032 111,030 126,015