BANK OF NEW ZEALAND

Hawera Star, Volume LIV, 7 June 1935, Page 10

BANK OF NEW ZEALAND

PROFIT OX YEAR'S TRADING. BALANCE OF £580,000. (By Telegraph—tress Association.) WELLINGTON, June 5. The annual report of the directors of the Bank of New Zealand for the year ended March 31 states that the profits amounted to £552,223 16s 2d. From this has to be deducted interest on guaranteed stock, £6476 4s 6d, leaving the balance of proiit for the year £575,747 11s Sd, to which lias to be added the balance brought forward from last year, £343,60S 16s 4d, making a total of £022,358 Ss. From the total has been paid a dividend on preference A shares (£50,000). an interim dividend on C long term mortgage shares (£7031 ss), an interim dividend on D long term mortgage shares (£17,57S 2s 6d), an interim dividend on preference B shares (£31,250), and tin interim dividend on ordinary shares (£187,500), a total of £293,350 7s Od, leaving available for distribution £628,997 0s 6d. This sum the' directors propose should be disposed of as follows: Dividend on C long term mortgage shares at 6 per cent., £7031 ss; dividend on D long term mortgage shares at 71 per cent., £17,57S 2s 6d; dividend on preference B shares (making £IOO,OOO for the year), £05,750; dividend at the rate of 5 ner cent, on ordinary shares (making £375,000 for the year, equal to 10 per cent.), £157,500. This will leave a balance to be carried forward of £345,137 13s.