Christchurch City Holdings pays council $92M in first-half and special dividends

Tue, 26 Feb 2019

By Jenny Ruth Feb. 26 (BusinessDesk) - Christchurch City Holdings is paying its council shareholder dividends worth more than twice its earnings in the six months ended December. The company owns 89.3 percent of electricity lines network Orion, 100 percent of Lyttelton Port and Red Bus, and 75 percent of Christchurch International Airport. It has assets worth $4.2 billion and is paying the council $92 million in dividends. However, net profit attributable to the council for the six months ended Dec. 31 rose to $47.8 million from $42.5...

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