REDUCED DIVIDEND
BANK OF N.S.W. BIG DECLINE IN PROFITS SYDNEY, Nov. 27. The profit of the Bank of New South Wales for the year ended September 30 amounted to £460,967, which is £102,268 below 1930-31. As the undivided balance brought forward was £112,963, the amount for appropriation was £575,930. An interim dividend of 6s a share for the firstquarter, and 5s for the second and third quarters had been paid, and a final payment also of 5s a share in Australian currency in respect of the closing quarter, was approved at 'the annual meeting to-day. The return to shareholders is equal to 5£ per cent, per annum, compared with 8 per cent, the previous year. The amount applied to dividends, £460,950, leaves £114,980 to he carried forward.
Mr. Thomas Buckland, president of the bank, in the course of his remarks, said that- the assets stood at £37.930,000, being an increase of more than £6,850,000. He added that the combined item of deposits and notes in circulation stood at the large total of £84.508.000, being an increase of over £14,638,000.
The report and balance sheet- wero adopted.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17950, 30 November 1932, Page 7
Word Count
186REDUCED DIVIDEND Poverty Bay Herald, Volume LIX, Issue 17950, 30 November 1932, Page 7
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