Air NZ keeps balance sheet plump, holds back on dividends as fleet renewal looms

Fri, 30 Aug 2013

By Jonathan Underhill Aug. 30 (BusinessDesk) - Air New Zealand opted to limit dividend payments in its latest year, even as it generated record operating cashflow, piled up cash on its balance sheet and pushed gearing below its target range as a buffer against fleet renewal and volatile fuel costs. The state-controlled airline will pay a final dividend of 5 cents a share, making 8 cents for the year, up 45 percent from a year earlier. Yet its dividend payout ratio dropped to 49 percent from 85 percent in 2012 Net profit more than doubled to...

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