Fletcher Building shares drop 5.7% as investors seek yield elsewhere

Wed, 22 Aug 2018

By Rebecca Howard Aug. 22 (BusinessDesk) - Fletcher Building shares dropped 5.7 percent despite news it expects to resume paying dividends in the 2019 financial year as investors look for more immediate yield. The company reported a net loss of $190 million for the 12 months to June 30, turning around a profit of $94 million in the prior year. Earlier this year, the construction company suspended its interim dividend and didn't declare a final payment. Today Fletcher said it expects "subject to satisfactory trading performance" to be able...

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