Contact increases dividend as it abandons uneconomic wind projects

Tue, 20 Aug 2013

By Pam Graham Aug. 20 (BusinessDesk) – Contact Energy is not ruling out further dividend increases after completing a geothermal project and halting $2 billion of wind-powered projects it had on its books. The power company controlled by Origin Energy says windfarms are not making a return on capital in an over-supplied New Zealand power market that it expects to last for at least five years. Contact today reported earnings before interest, tax, depreciation, amortisation and changes in fair value instruments of $541 million in the year end...

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