UNION BANK YEAR
The Union Bank of Australia, Ltd., reported to February 28 last as follows:— • After making provision for bad and doubtful debts and other contingencies, there is a net profit for the year of £203,509 3s lid, to which is added £100,523 0s Id brought forward from the previous year, making £304,032 4s Od. The interim dividend paid in January last at the rate of 4 per cent, per annum, equal to 2s per share, having absorbed £80,000 the amount available was £224,032 4s Od, out; of which the directors, declared a final dividend at the rate of 6 per cent, per annum, equal to 3a per share, making 5 per cent, for the year free" of United Kingdom income tax, payable to proprietors registered in the books of the bank on July 3, 1934. The final dividend absorbed £120,000 and left £104.032 4s Od to be carried forward. A further sum of £100,000 was allocated from reserve fund to currency reserve^ in_ order to make provision for the acquisition at par in New Zealand currency under tha "Reserve Bank of New Zealand Act, 1933," of the gold held by the bank.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19340807.2.115.3
Bibliographic details
Evening Post, Volume CXVIII, Issue 32, 7 August 1934, Page 12
Word Count
194UNION BANK YEAR Evening Post, Volume CXVIII, Issue 32, 7 August 1934, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in