BANK OF N.Z. YEAR
ANNUAL BALANCE-SHEET. SMALLER PROFITS. Wellington, June 7. The report of the directors of the Bank of New Zealand submits the balance sheet and profit and loss statement of the bank for the year ended March 31 last. The profits;; after providing for expenses, management and all bad and doubtful debts and the annual donation to the provident fund, are £608,222. •From this has to be deducted interest on guaranteed stock £21,100, leaving a balance of profit for the year of £587,023. To this has to be added the balance brought forward from last year £626,000, the total available for distribution thus being £1,213,025. From this amount £306,276 had been paid in interim dividends, leaving available for distribution £846,749, which the directors propose to be disposed of as follows: Dividend on p long term mortgage shares at six per cent, per annum;£7o3l; dividend on D long term mortgage shares at 7J per cent, per annum, £17,578; dividend on preference B shares (making £181,250 for the year), £139,583; dividend at the rate of 7 2-3 per cent, on ordinary shacres (making £537,500 for tho year, equal to 14 1-5 per cent.), £287,500.
This leaves a balance to bo carried ’orward of £395,057.
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Bibliographic details
Hawke's Bay Tribune, Volume XXII, Issue 148, 8 June 1932, Page 11
Word Count
204BANK OF N.Z. YEAR Hawke's Bay Tribune, Volume XXII, Issue 148, 8 June 1932, Page 11
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