COMPANY MEETING
NATIONAL AND GRINDLAYS BANK LIMITED
THE following are extracts from the circulated state- ment by the Chairman, The Rt. Hon. Lord Aldington, P.C., K.C.M.G., C.B.E., D.S.O., for the year ended December 31, 1965:
The Bank made a significant advance in profit- ability and in level of business in 1965.
Total assets were £463,618,964 compared with £392,978,515 a year earlier and consolidated profits at £1,444,109 compare with £771,810 for 1964.
The year has seen increased activity throughout our business and so far this year there has been no sign of any alteration in last year's trends.
The Directors recommend that the total dividend for the year should be 17% (last year 15%) and have thought it right to declare a second Interim Dividend of 91% and to recommend to you that there should be no final dividend. They have de- cided to declare a first Interim Dividend of 4% on the present capital in respect of 1966 and to pay it on 1st April.
It is recommended that the value of the shares of the Bank be increased from 15/- to 1 by capitalising £1,901,000 from Reserves.
Previous page
