DOMINION INVESTMENT AND BANKING
DECLINE IN NET PROFIT P.A. AUCKLAMD. Aug. 15. A further decline of £778 in the net profit to £10,902 is shown in the accounts of the Dominion Investment and Banking Association for. the year ended June 30. Dividends are maintained at 5i per cent, per annum on tire A and B shares and 4 per cent, per annum on third issue B and C shares, and £2OOO is again placed to general reserve, increasing this fund to £29,000. Dividends absorb £BBI9, leaving £B3 to increase the carry-fonvard to £15,910. The directors state that the reduced rates of interest available for first-mort-gage securities continue to affect returns from funds becoming available for re J invesments. Interest and sundry receipts were £14,921, against £15,436.
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Otago Daily Times, Issue 26541, 16 August 1947, Page 3
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126DOMINION INVESTMENT AND BANKING Otago Daily Times, Issue 26541, 16 August 1947, Page 3
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