BANK OF NEW ZEALAND.

Wairarapa Daily Times, Volume LVII, Issue 8780, 11 June 1907, Page 5

BANK OF NEW ZEALAND.

(By Tehgraph — Press Association.) WELLINGTON, Yesterday. The Directors of the Bauk ,of New Zealand, in their report balancesheet for the year ended March 81st, state that the profits, after providing for the expenses of management, all bad alia doubtful' Viobw, «W d making provision for annual donations to the Provideut Fund, and for bonus to the staff, are £350,880 16s 7d. From this has to be deducted interest on guaranteed stock £40,000, leaving £310,880 Kis 7(1. Of this sum, the Directors have allocated iv the reduction of bauk premises and furniture £ Hi, 000, leaving the balance of profit for the year £21)4,880 Kis 7d, from which has beou paid au interim dividend of 5 per cent., on preference shares, £25,000, aiid ou ordinary shares £25,000, leaving'available for distribution £344,888 Kis 7d. This the Directors propose should be disposed of as follows:—Dividend at the rate of 2X per cent, on preference shares £10,5*00 (making 7% per cent, for the year), dividend 5 per cent, ou ordinary shares £25,000 (making 1C per cent.), transfer to Reserve Fund £1(58,705 «.)s 9d, making the Reserve Fund £250,000, grant to Officers' Provident Fund £7000, leaving a balance to bo carried forward of £131,(575 (is 10d.