BANK'S DIVIDENDS

Evening Post, Volume CXXV, Issue 3, 5 January 1938, Page 12

BANK'S DIVIDENDS

ADDITIONS TO BONUSES

(By . Telegraph—Press Assn.—Copyright.)

(Received January 5, 10 a.m.)

LONDON, January 4.

' The first of the British banks to announce'dividends this year is Martins Bank, 'Liverpool, which, in addition to 1 paying the usual final dividend of ,7 per cent., has declared a bonus of 2 per cent, to commemorate its centenary. The Westminster Bank, London, has announced that its-dividend is unchanged, at 12J per cent., but a bonus of .2 per cent, is also declared on the £4 shares in this bank. The net profit of the Westminster Bank is £1,750,000, as compared with £1,731,000 for last year.

Martins Bank was established in 1831 as the Bank of Liverpool, but it absorbed a large number of local banks or amalgamated with :them, and the name was changed to Martins Bank, Limited, in 1928. The origin ,of the institution, however, goes back, to the sixteenth century, but.it.was not until 1890 that Martins; Bank,' Ltd., London, was changed to the Bank of Liverpool and Martins, Ltd. ■..'.■•-.:. The Westminster-Bank ; is one of the big five'British banks, and it was established.in 1934 as the London and Westminster"■■ Bank. , The -Westminster Bank, • Ltd., as it is today, represents amalgamations and • absorptions of a number, of other banking institutions operating 'in London,; the Provinces, .Ulster, and ChanneMslands.