Heartland shares rise after lender hikes dividend, lifts first-half profit 8.9%

Mon, 22 Feb 2016

By Paul McBeth Feb. 23 (BusinessDesk) - Heartland Bank shares rose to a three-week high after the NZX-listed lender hiked its interim dividend payment following an 8.9 percent lift in first-half profit, as increased auto loans and reverse mortgages bolstered its household lending division. Net profit rose to $25.6 million, or 5 cents per share, in the six months ended Dec. 31, from $23.5 million, or 5 cents, a year earlier, the Auckland-based lender said in a statement. Net interest income increased 8.8 percent to $71.5 million, with the...

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