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

Got $50m? Help rebuild Scott Base
Infrastructure

Got $50m? Help rebuild Scott Base

Antarctica NZ is seeking private funds, and the UAE is touted as a possible source.

Auckland Council proposes downzoning 12,000 properties
Policy

Auckland Council proposes downzoning 12,000 properties

The council is also proposing to enable 10-15 storey apartments around more than 40 hubs.

Oliver Lewis 19 Aug 2025
Port of Tauranga gets expert panel for Stella Passage
Policy

Port of Tauranga gets expert panel for Stella Passage

A decision on the major wharf upgrade isn't expected until next year.

Oliver Lewis 15 Aug 2025
KiwiRail settles with Hyundai for $144m
Infrastructure

KiwiRail settles with Hyundai for $144m

The total cost of the cancelled Interislander replacement project has hit $671m.

Oliver Lewis 15 Aug 2025