BONDS ON DIVIDENDS.
TWO AUSTRALIAN BANKS.
PAYMENT IN STERLING.
AUSTRALASIA AND UNION. [by telegraph.—preps association.] WELLINGTON, Thursday. T'ho directors of the Bank of Australasia have decided to pay the halfyearly dividend, now due, in sterling and. will issue dividend warrants on London. Warrants will be payablo in New Zealand at any branch of the Bank of Australasia at the current rate of exchange quoted by the banks for buying demand draftu on Ixmdon, £IOB 10s per £IOO London. Thus shareholders will receive the benefit of the premium on the banks' buying ,side, 8j per cent. The dividend, at the rate of 13 per cent., is payable on March 27. This directors of the Union Bank of Australia have made a lika decision in respect of tho dividend at the rate of 10 per cent, per annum declared in January.
The interim dividend of the Union Bank was paid on January 28.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20827, 20 March 1931, Page 10
Word Count
151BONDS ON DIVIDENDS. New Zealand Herald, Volume LXVIII, Issue 20827, 20 March 1931, Page 10
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