Bathurst withholds dividend citing court action, plans buyback

Bathurst withholds dividend citing court action, plans buyback
Jonathan Underhill
By Gavin Evans Aug. 28 (BusinessDesk) - Bathurst Resources has opted not to pay a final dividend and will instead retain the cash in case it has pay a US$40 million performance fee to the former owner of its Buller permits. The company, which today reported stronger than forecast full-year operating earnings, said directors chose not to pay a dividend in the light of the “adverse” judgment of the New Zealand High Court, which backed the claim for payment from L&M Coal. “The cash will be held in reserve and will be distributed later onc...