BANK OF NEW ZEALAND.

Otago Witness, Issue 3509, 14 June 1921, Page 25

BANK OF NEW ZEALAND.

TIIE YEAR’S PROFITS. ..., , A\ ELLINGTON. June 9 The annual report of the Bank of New Zealand shows the profits to be £ } ,455 ioo-UrhA n ! eerstt ‘ st oli guaranteed stock, £21,199 10s lid. It is proposed to reduce tlie premises and furniture by £SO 000 dividing the balance of £777.255 14s 6d ’(less interim dividends amounting to £196 875) as follows: „ Lividend on preference A shares of 2s £02.->0; dividend on B shares. 2s. £40,625; dividend on ordinary shares, 2s * £d, £163,750; and to place' to reserve £150.0:0’ and carry forward £361,275. Air Harold Beauchamp, chairman of the bank, explained that with the divalent! that, would be paid if tiie balance sheet and report were adopted, the ordinary shureholdt vs would receive 2- cd per share for tue full year. Ordinary shareholders hud a ready received m interim dividend of Is 2d per share; thov would now receive a further Is 6d. niakii;-.- a total of 2s Bd. I he Government in respect of its holdings of both A and B preference shares will receive 2s nor shave. If in future a greater dividend than 2s 3d per share is declared the Government on its B shares will receive ono-tmrd of the extra dividend declared over and above the 2s Cd per share, while oviunary shareholders will receive two-tliirds tm.s being provided for in tlie last \ct passed in 1920. It is understood that ordinary shares (one pound r,a d up) are now selling at £2 6s 6d to £2 7s 6d cum div., niu| at that price the return to shareholders on the present ve.lne of shares is in the vicinity of 6 per cent.