Page 4 Advertisements Column 2

Evening Post, Volume CXXXIII, Issue 47, 25 February 1942, Page 4

THE BANK OF AUSTRALASIA. (Incorporated by Royal Charter, 1835.) £ Paid-up Capital 4,500,000 Reserve Fund (used in the business of the Bank) 2,500,000 Currency Reserve (used in the business of the Bank) 2,000,000 Reserve Liability of Proprietors ... 4,500,000 £13,500,000 A DIVIDEND at the rate of 9 per cent, per annum, being a distribution of 4s 6d per share less British income tax at 5s 41 / 4 din the £ has been declared by the Court of Directors. An interim dividend of 3s Cd per share at the rate of 7 per cent, per annum less British income tax at 5s 4 1,4 din the £ was paid on October 3, 1941. This makes a distribution for the year at the rate of 8 per cent. The net profit shown for the year is £237,012 11s Id. The dividend will be payable at any branch of the" Bank of Australasia at the current rate of exchange for sight drafts on London. The New Zealand Register ( .of Proprietors will be closed on March 2 for the purpose of the above-mentioned dividend which will be paid on March 27. In calculating the rate at which income tax has been .deducted from the dividend for the year, a further amount of relief due to shareholders In respect of Dominion income tax for the years 1938 and 1939 as finally agreed with the Inspector of Taxes has been taken Into account. The rate at which income tax has been deducted from both the interim and final dividends has been adjusted accordingly with the result that the amount required to cover the dividend for the year has been increased by approximately £20,000 to which extent the Proprietors benefit. The increase in the carry forward in recent years is partially due to an over deduction of tax in respect of the years 193S and 1939. E, A. CAMERON, Inspector. | Wellington, February 24, 1942.