Chorus shares jump 8 percent after maiden profit, dividend forecast

Mon, 27 Aug 2012

By Paul McBeth Aug. 27 (BusinessDesk) - Shares in Chorus jumped 8 percent after the telecommunications network operator reported its maiden profit and forecast a 25.5 cent dividend in 2013. The stock climbed 26 cents to $3.42 in trading today, the highest since early May when the Commerce Commission indicated it wanted a lower regulated average price for some of Chorus' copper network services. Chorus's board declared a fully-imputed dividend of 14.6 cents per share, or $56 million, to be paid on Oct. 5, and said next year's return will be...

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