Chorus shares rise 4.5% as investors pleasantly surprised with dividend size

Fri, 19 Feb 2016

By Paul McBeth Feb. 19 (BusinessDesk) - Chorus shares rose 4.5 percent after the telecommunications network operator offered a bigger dividend than anticipated. The Wellington-based company will pay an interim dividend of 8 cents per share on April 5 and wants to pay 20 cents for the full-year, a level it plans to build on in future years. Chorus stopped paying dividends after regulated price cuts strained its balance sheet, forcing it to renegotiate its banking arrangements and reassess its spending programmes. When the Commerce Commissi...

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