Spark board mum on future of dividend, asset sales

CEO Jolie Hodson, left, and chair Justine Smyth stuck to their message that the year was rough but recovery plans are in place. (Image: Spark)

Ben Moore

Fri, 01 Nov 2024

Spark’s leadership remained tight-lipped around plans for its dividend and asset sales at the company’s annual meeting on Friday.On Wednesday, the board announced a 4% drop in guidance for earnings before interest, taxes, depreciation, amortisation and investments (ebitdai) to between $1.12 million and $1.18m, and dividend guidance was down from 27.5 cents per share to 25cps.At the same time, the sale of its 17% share of cell tower management firm Connexa was announced and potential divestment of other non-core assets.In her ad...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket down over 1.5% for the week

The S&P/NZX 50 Index closed at 12,559.28, down 79.62 points or 0.63%.

Graham Skellern 6:12pm

Markets

Just Life Group sells The Cylinder Guy

Just Life Group CEO says it was probably a mistake buying the business in 2020.

John Anthony 3:30pm

Markets

Vulcan Steel looks forward to better times

The newer aluminium operations are outperforming steel.

Greg Hurrell 2:05pm

Vulcan Steel looks forward to better times

Sponsored

Cybersecurity: it’s a culture, not a checklist

Build a human firewall as part of your company's culture.

Fortinet

Sponsored

Private credit reshapes NZ lending

More and more Kiwis want the mortgage flexibility banks can't give

First Mortgage Trust

More Finance

Finance

Potentia invests in early childhood education platform

Potentia Capital is taking a majority stake in early childhood software provider Storypark for an undisclosed sum.The technology specialist investment firm said the “substantial capital backing” would come from its A$670 million (NZ$736m) Fund 2, which was raised in 2022.It said...

Staff reporters 11:20am