A STRONG POSITION

Wanganui Chronicle, Volume 76, Issue 164, 14 July 1933, Page 8

A STRONG POSITION

NATIONAL BANK OF N.Z. PAYMENT OF DIVIDEND The annual meeting of the National bank of New Zealand, Ltd., held in .condon on Tuesday, passed off satisfactorily, according to a cable message received by tne general manager (Mr. J. T. Grose). As was announced previously, the National Bank of New Zealand Ltd., is paying, on July 15, a final dividend al the rate of 4 per cent, per annum, free of tax, from the half-year ended March. 31 last. The above dividend will be payable in New Zealand at any branch of the National Bank of New Zealand, Limited, at the current rate of exchange for demand drafts on London on the date of negotiation. As an interim dividend at the rate of 4 per cent., free of tax, was paid in January last, the total dividend for the year is 4 per cent., which with the exchange added will give the shareholder in New Zealand a return of £4 12s lid per cent, for the year. The National Bank shows its capital and reserves as under; — £ Subscribed capital 6,000,000 Paid-up capital 2,000,000 Reserve fund (invested in Government securities) .. 2,000,000 Reserve liability of shareholders .. 6,000,000 10,000,000 In addition there are undivided profits carried forward of £114,742. In the balance-sheet liquid assets stand at £9,367,000, which are equivalent to 58 per cent., or Ils 7d in the £ of total liabilities to the public, and for every £1 of its own funds, the bank is holding only £3 18s Id of the public’s money, which is an exceptionally strong position.