Chorus suspends dividend payments, tweaks banking covenants

Thu, 24 Jul 2014

By Paul McBeth Jul. 25 (BusinessDesk) - Chorus, the telecommunications network operator, has suspended dividend payments as regulatory uncertainty weighs on its balance sheet, and has renegotiated its banking covenants to give it some financial breathing space. The Wellington-based company won't pay a dividend until June 30, 2015 or the conclusion of the Commerce Commission's final ruling on how much Chorus can charge customers on its regulated copper-based services, whichever is the later, it said in a statement. It has also amended the...

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