Rural Equities to resume paying dividend

(Image: Getty)

Mon, 04 Sep 2023

Rural Equities will resume paying a dividend after the sale of two farms boosted its cash reverses.After the unlisted securities exchange (USX)-listed farm investment group, which is majority owned by the Cushing family, completed a share buyback in October 2021, purchased a new mid-Canterbury dairy farm and capital expenditure on its property portfolio, it was left with $1.7 million in cash reverses at the end of June last year – down from $22.7m the year prior.Because of that reduction and to allow it to consider other investment o...

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