BANK OF NEW ZEALAND.

Wanganui Herald, Volume XXXXI, Issue 12189, 10 June 1907, Page 7

BANK OF NEW ZEALAND.

A Profitable Year.

(Par United Press Association. \ WELLINGTON , June 10

The Di lector* oi the Ban* of New Zealjud. in their annual lepoit and balancesheet, ior the year ended 31st March, xtdte that profit*, attcr pvotiding for th« ei| euees ol management, all bad and doubtful debts, and after making provision for the annual donation to the Provident Fund and tor a boirns to staff', are .£350,880 16s 7<L Horn this has to be deducted interest on the guaranteed stock, .£40,1)00, being J-310,880, 16s 7iL Of this sum the Directors have allocated in ■.eduction of Bank premises and furniture. .£'1(50.01)0, leaving a balance of net profit for the year of .£294.880 16s 7d. from which has been paid, an interim dividend at 5 per cent on preference aharos i'2i,ooo, on ordinary shares JU25,000, leaving available for distribution .£244,880 16b 7d. This, the Directors proposed, should be disposed of as follows- — Dividend at the rate of 2{. per cent on preference shares ,£12,500 (making ~\ per cent for the year), a dividend oi 5 per cent on oidinaiy shares .£25,000 (making 10 per cent), transfer to reserve fund .£168,703 9s fJkl (making reserve fund .£2o0,000). grunt to Officers Provident Fund .£.7,000. leaving a balance to be Ljined foiwaid .fSl.oTj <i« lud.