BANK OF NEW ZEALAND

Dominion, Volume 29, Issue 202, 23 May 1936, Page 12

BANK OF NEW ZEALAND

Dividend Maintained The directors of tlie Bank of New Zealand announced yesterday that, subject to audit, it would be recommended at the annual meeting of shareholders to be hold on .lune 12 next that a final dividend of 1/- per share be paid to tlie ordinary shareholders for the last half-year, making the distribution tlie same as for the previous year. Tlie dividends paid by tlie Bank of New Zealand on its ordinary shares :n recent years have been as follow:—174 jter cent, in 1920; 13 1-3 per cent, from 19’21 to 1926, 14 1-3 per cent, from 1927 to 1932; 11£ per cent, for 1933; 10 per cent, for 192,4 and 1935. The paid-up capital of the Bank of New Zealand is as follows: — £ Preference A shares issued to the New Zealand Government. 500,000 C Jong-term mortgage shares issued to the New Zealand Government 234.375 D long-term mortgage shares 465.750 Preference B shares issued to the New Zealand Government 1.375.000 Ordinary shares 3.750,000 £6.328,125 ■ The total distribution of tlie bank for the year ended March 31, 1935, was as follows :— £ s. d. Preference A shares ... 50.000 0 0 C long-term mortgage shares, 6 per cent, per annum 14,062 10 0 D long-term mortgage shares, 74 per cent, per annum 35.156 5 0 Preference B shares ... 100.000 0 0 Ordinary shares, 10 p.c. 375.000 0 0 £574,218 15 0 For tlie year (ii.led March 31, 1935, lite net profit of the Bank of New Zealand was shown at £585.224. compared with £573.032 in 1931, ami £594,270 m 1933. Tlie ordinary dividend of Ute Bank :tf New Ze,'ll,'iml compares as follows with the last annual rates paid by the other trading banks in New Zealand and Australia :— Per cent. Bank. per annum. New Zealand 10 National of N.Z 4 New South Wales 5 Union 5 Australasia _7J _ Commercial of Australia .. 5 5-6 Commercial of Sydney .... 5 Adelaide -I E.S. and A 5 National of Australasia .. 5| (Queensland 4