NATIONAL BANK YEAR
DISTRIBUTION OF PROFITS
Cable advice has been received from London by the general manager of the National Bank of New Zealand, Limited, to the effect that the net profit for the year ended March 31 last, after making provision for bad and doubtful debts and transferring £30,000 to exchange and contingency account, amounted to £102,949, which with the £106,416 broght forward from the previous year leaves available for distribution £209,365. This it is proposed to allocate as follows:—In payment of a dividend at the rate of .4 per cent, per annum free of ta*i £80,000; to pension and gratuity funds, £14,000; balance to be carried forward, £115,365. Total, £209,365.
The final dividend at the rate of 4 per cent, per annum for the half-year ended March 31, malting 4 per cent, for the year, will be payable in New Zealand, free of" tax, on July 13, at any branch of the National ißank of New Zealand, Limited, at current rate of exchange for demand drafts on London on date of negotiation. Net profit for 1934 was £135,674, and the dividend'was 4 per cent.
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https://paperspast.natlib.govt.nz/newspapers/EP19350625.2.148.6
Bibliographic details
Evening Post, Volume CXIX, Issue 148, 25 June 1935, Page 12
Word Count
186NATIONAL BANK YEAR Evening Post, Volume CXIX, Issue 148, 25 June 1935, Page 12
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