FIRST CUT: Meridian Energy annual earnings up 5%; pays special dividend

Tue, 23 Aug 2016

By Pattrick Smellie Aug. 24 (BusinessDesk) - Meridian Energy has followed its fellow part-privatised counterpart, Mercury NZ, by declaring a special dividend for shareholders in a sector where strong cashflows are not currently required for new investment. Meridian declared a 5 percent increase in earnings before interest, tax, depreciation, amortisation, and changes in the value of financial instruments at $560 million for the year to June 30, reflecting a $39 million increase in New Zealand electricity sales to $939 million, and a lift...

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