INVESTMENT AND BANKING.
A net profit of £8974, against £10,971 in the previous year, is shown in the seventh annual accounts of the Dominion Investment and Banking Association of Auckland for the year ended June 30. With £1028 brought into the accounts, there is £10,002 available. The directors recommend that this should be dealt with as follows:—To payment of a dividend of 4% per cent. on.A shares and the first and second issues of D and C shares, £7564; to reserve fund (increasing it to £4500), £500; to contingency reserve (increasing it to £3000), £1000; and to carry forward, £938. The dividend is a reduction of % per cent, on the previous year's rate.
Following is a comparison of the association's results and appropriations for the past two years:— 1032. 1033. £ S Capital 171,363 169,309 Deposits 137,340 130,307 Mortgages 276,781 264,554 Net profits 10,071 8,974 Brought forward ...... 1,008 1,028 Dividends— > A shares 5 4% B and C (first) .... 5 41/. Ditto (second) 5 414 Amount 8,45 V 7,56*1 To reserve 500 500 Contingency reserve .... 2,000 1,000 Carried forward £1,028 £938 In 1931 dividends of 7 per cent, were paid on A and B shares and 6 per cent. on second B shares.
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Evening Post, Volume CXVI, Issue 24, 28 July 1933, Page 10
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201INVESTMENT AND BANKING. Evening Post, Volume CXVI, Issue 24, 28 July 1933, Page 10
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