NATIONAL INSURANCE

Wanganui Chronicle, Volume 80, Issue 266, 9 November 1937, Page 11

NATIONAL INSURANCE

DIVIDEND RATE UNCHANGED NET INCOME HIGHER The annual report of the National Insurance Company of New Zealand, Limited, shows that net income for the year ended September 30 amounts to £289,679. After making full provision for losses outstanding, there is an underwriting surplus of £20,169. Interest and rents, less income tax, amount to £28,460, and the balance brought in from last year is £37,536, amounting in all to £86,165. An interim dividend of 4d a share was paid in May, absorbing £16,667, leaving £69,498 available. The directors have added £6500 to the reserve fund and have written £4537 off the company’s premises and now recommend the payment of a further dividend of 5d a share, making the total distribution for the year 9d. a share. The total dividend requires £37,500 and there remains £37,628 to be carried forward. The dividend, which is equal to 10 5-7 per cent., is unchanged. Results of the past three years compare as fol-

The paid capital of the company is £350,000 in 1,000,000 £1 shares paid to 7s each. The reserve fund will be raised to £321,500 by the present appropriation.

lows: — Net irfcome 1935 £ 241,106 1936 £ 260,160 1937 £ 289,679 Brt. forw'd 36,909 37,521 37,536 Surplus 20,009 20,459 20,169 Int. & rents 27,710 26,957 28,460 To reserves 84.628 9,607 84,937 9,900 86,165 6,500 Premises ... — —■ 4,537 Dividend, 10 5-7 p.c. 37,500 37,500 37,500 Car. for. 37,521 37,537 37,628