PAYMENT OF DIVIDENDS
ACTION BY BANKS. Since the announcement of the decision of the Bank of New South Wales to pay dividends subject to exchange, investors in three other banks have found that deductions are to be made from dividends payable to New Zealand shareholders. On dividend warrants received last week from the Australian Bank of Commerce a deduct ion of Gd in the pound was made for unemployment levy in New Soulli A Vales. In a recent circular letter to shareholders the Commercial Banking Company of Sydney advises as follows: “ Leading counsel have advised Hint in present circumstances the hank can only pay dividends in New Zealand at the. current rales of exchange, and this lias been adopted with regret.” The head office of the National Bank of Australasia, .Melbourne, raided yesterday ns follows: “ The board of directors have decided until further notice, to pay dividends in Australian pounds.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WT19310217.2.88
Bibliographic details
Waikato Times, Volume 109, Issue 18255, 17 February 1931, Page 8
Word Count
150PAYMENT OF DIVIDENDS Waikato Times, Volume 109, Issue 18255, 17 February 1931, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Waikato Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in