UNION BANK DIVIDEND

Sun (Auckland), Volume IV, Issue 1025, 16 July 1930, Page 13

UNION BANK DIVIDEND

RATE OF 12J PER CENT. \ final half-yearly dividend at the rate of 124 per cent, for the year has been declared by the Union Bank of Australia. Ltd. This is the lowest rate paid since 390 S and a reduction of per cent, on the distribution last yeai. Before 3 90S. the rate was 10 per cent. It reached 14 per cent., then and this rate was maintained until 10 years ago when the rate rose to 15 per cent. Until January last, this rate was paid, but a reduction was then made to 121 per cent, a year in the rate of interim dividend. The reduction was not unexpected, because the disclosed profit for the year ended February 3 929, £011,932, was so close to the ii 600,000 required for maintaining: the 3 5 per cent, dividend. Payment at the reduced rate will require £500,000 a year. PRICES FOR METALS LONDON, Monday. (Quotations on July 10 in parentheses) Copper.—Spot, £47 9s 4Jd (£47 13s 9(1); three months, £47 9s 4ud (£47 Ss 9d). Electrolytic Copper.—Spot £52 10s (.£ 53 10s); three months, £54 10s ( £oo Bars. — £54 10s (£55 10s). Lead— Spot, £IS 6s 3d (£lB 2s 6d) ‘ three months, £lB 3s 9d (£18). Spelter.—Spot, £ls 15s (£ls 12s Gd); three months, £l6 7s 6d (£l6 5 s I Tin, —Spot, £132 13s 9d (£l3O 6s 3d): three months, £134 3s 9d (£132 3S Silver. —Standard. 16d (16 l-16d) an ounce; fine, 17id (17 3-Sd). MARKETS IN LONDON The Bank of New Zealand has received the following- advice from its London office, as at the close of business last week:—“Butter: Quiet; 136 s a cwt. Cheese: Quiet; coloured, 82s; white, 75s to 7Gs.” London Wool Sales. —Compared with the close of last sales greasy New Zealand merinos slightly cheaper. Greasy crossbreds hardening tendency since opening.