NATIONAL BANK OF NEW ZEALAND, LTD.

Evening Post, Volume CXXVI, Issue 7, 8 July 1938, Page 12

NATIONAL BANK OF NEW ZEALAND, LTD.

The general manager of the National Bank of New Zealand Limited announces payment on July 9 of a final dividend at the rate of 5 per cent, per annum, less United Kingdom income tax, at the rate of 3s 8d in the £ for the half-year ended March 31, 1938. The above dividend will be payable in New Zealand at any branch of the National Bank of New Zealand Limited at the current rate of exchange for demand drafts on London on the date of negotiation. An interim dividend at the rate of 4 per cent, per annum, free of tax, was paid in January last, and the total dividend for the year, with exchange added, Awill give the shareholder in New Zealand a return of £4' 19s lOd per cent, for the year. This bank shows its capital and reserves as under: —Subscribed capital, £6,000,000; paid-up capital, £2,000,000; reserve fund (invested in Government securities), £1,000,000; currency reserve (invested in Government securities). £500,000; reserve liability of shareholders, £6,000,000. In addition, there are undivided profits carried for-; ward of £113,690. In the balance-sheet liquid assets stand at £5,145,000, which are equivalent to 33.75 per cent., or 6s 9d in the £, of total liabilities to the public, and for every £1 of its own funds the bank is holding £4 4s 4d of [the pubic's money.