Fletcher trims dividend to preserve cash, earnings meet guidance

Fletcher trims dividend to preserve cash, earnings meet guidance
Chief executive Ross Taylor will keep a close watch on costs. (Image: NZME)
Paul McBeth
Fletcher Building trimmed its final dividend more than expected as the country’s biggest listed construction company seeks to preserve cash in what it predicts will be a tighter market. The company lifted earnings before interest and tax – excluding one-off items – to $798 million in the 12 months ending June 30 from $756m, meeting recent guidance downgraded due to the slowing property market. Net profit sank to $235m from $432m a year earlier, due principally to the extra $255m provisioning on the problematic New Ze...

More Infrastructure

Port of Tauranga ‘reluctantly’ doubles MetroPort rail fees
Primary Sector

Port of Tauranga ‘reluctantly’ doubles MetroPort rail fees

The port says it's working with KiwiRail on 'long-term arrangements'. 

Oliver Lewis 04 Jul 2025
‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades
Policy

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades

Two of the biggest NZ ports are raising prices as they plan major investments.

Oliver Lewis 02 Jul 2025
Cost of Ōtaki to north of Levin highway nears $2b
Infrastructure

Cost of Ōtaki to north of Levin highway nears $2b

In 2020, the lower North Island expressway was costed at just $817m.

Oliver Lewis 01 Jul 2025
The keys to unlocking Northport's land value
Infrastructure

The keys to unlocking Northport's land value

MMH's land is valued at five times less than its next-door neighbour, Channel.

Ian Llewellyn 30 Jun 2025