BANK OF NEW ZEALAND
ANOTHER PROSPEROUS YEAR
Press Association.—By Telegraph WELLINGTON, June 3.
The annual report of the Bank of New Zealand states that the profits, after providing for expenses of management, bad and doubtful debts, etc., are £388,490 13s Sd. From this has to be deducted interest on guaranteed stock £40,000, making £348,490 13s Bd. Of this sum the directors have allocated in reduction of bank premises and furniture, £40,000; leaving a balance of profit for the year £308,490 13s Bd, to which has to be added the balance brought forward from last year £43,117 15s 2d, making in all £351,(508 8s lOd. From this has been paid an interim dividend of 6 per cent. on preference shares (£30,000) and an interim dividend on ordinary shares (£30,000). There is left available for distribution £29U»08 8s lOd. This the directors propose should be disposed of as follows:—Dividend at the rate of 4 per cent, on preference shares, £20,000; dividend at the rate of •> per cent, on ordinary shares. £30,000; bonus at the rate of 3 per cent, on ordinary shares, £15,000; transfer to reserve fund. £175,000, making the reserve fund £1,550,000, and leaving the balance t<> be carried forward £51,(508 8 s 10d. i
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https://paperspast.natlib.govt.nz/newspapers/MT19140604.2.51
Bibliographic details
Manawatu Times, Volume LXXVIII, Issue 12808, 4 June 1914, Page 6
Word Count
204BANK OF NEW ZEALAND Manawatu Times, Volume LXXVIII, Issue 12808, 4 June 1914, Page 6
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