The funds donated to charity by Bank of Queensland shareholders through the Investing in Hope fundraising program has increased by almost a third since the same period last year.
A total of $18,837 was donated to Children’s Hospital Foundations Australia (CHFA) through the program in the first half of this financial year, a 31% increase on donations from the same period last year of $14,348.
Managing Director David Liddy said the increase had been the result of a greater number of smaller shareholders getting behind the program.
“I applaud our shareholders for choosing to get involved with Investing in Hope.”
“By donating their cash dividend, they are directly helping cure and care for sick children,” he said.
“The funds directed to Investing in Hope go to Children’s Hospital Foundations Australia, an innovative partnership consisting of five uniquely child-focused foundations that support leading paediatric hospitals.”
Investing in Hope Ambassador and joint Managing Director Whittaker Macnaught Pty Ltd, Noel Whittaker, said the jump in donations was a great indication of the strength of the program.
“Investing in our kids’ health is crucial to total community well-being. The 31% jump in donations shows that BOQ shareholders see the benefits of using their dividends to help out in this way.
“It is a simple and tax-effective way for them to give to charity, and it truly is a worthy cause.”
“CHFA drives medical research programs that aim to find breakthrough treatments and cures for sick and terminally ill children. That’s expensive work and the money donated by the Bank of Queensland shareholders will make a difference.”
Shareholders’ donations are tax deductible and they receive a dividend imputation credit to offset tax on other income, depending on personal circumstances.
Bank of Queensland has developed a strong relationship with CHFA, running an annual Banking on our Kids fundraising appeal in July.
BOQ also has a strong relationship with the Royal Children’s Hospital Foundation in Queensland, and helped raise nearly half a million dollars for the Hospital as major sponsor and the official banking partner of the B105 Christmas Appeal.
Bank of Queensland was also the first listed company in Australia to support Investing in Hope and offer shareholders the opportunity to donate all or part of their dividends to charity.