BANK OF NEW SOUTH WALES

Taranaki Daily News, 30 November 1932, Page 6

BANK OF NEW SOUTH WALES

LOWER DIVIDEND IN PAST YEAR LARGE INCREASE IN ASSETS. By Telegraph—Press Assn.—Copyright." Rec. 10.5 p.m. Sydney, Nov. 29. The net profit of Bank of New South Wales for the year ended . September 30 amounted to £462,967, £102,268 less than in 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' first Quarter and ss: for the second and third quarters was paid and a final payment also of ss. a share in Australian Currency in respect of the closing quarter was approved by the annual meeting to-day. The return to shareholders is thus equal to 5f per cent, per annum, compared with 1 8 per cent, in the previous year. The amount applied' in dividends (£460,950) leaves £114,980 to be carried forward.

Mr. Thomas Buckland, president of the bank, in the course of his remarks said the assets were £37,980,000, that being an increase of more than 6,860,000. He added that the combined item of deposits and notes in circulation reached the large total of £84,508,000, an increase of over £14,638,000. The report and balance-sheet were adopted.